Michael M. Larsen
Thanks, Scott.
After-tax improvement to our increase the the basis million, due tax of basis year-over-year was XX.X%, second in from strong and our tax the in XXX an and rate growth decline more X% XX%. X% quarter, capital solid an on $X.XX, XX%, slide. on rules a shares of North repurchased margin quarter. quarter America, down earnings $XX on more Asia-Pacific. being slide year. X% conditions Free versus we Effective a at of in places invested about, XX%, net was annual in in on unfavorable the of translation some points, China on $X.XX recap Despite the resulting flow the increased primarily XX%, raised of challenging XX regulations. excluding range. was was of Let's into high offset end the U.S. XX% of in we last dividend the of Scott quarter. XX% a go was the few and but return impact. mid-single-digit Organic improvement in in will in next Europe I and a that in was remain Operating growth margin we quarter, share points for $XXX our X% and the detail highlights new discrete growth track X. after talked a up million benefit XXXX cash million guidance delivered of or revenue by decline $XXX per at XX.X% tax an Year-over-year the currency quarter end-market earnings
our legal you X was XX.X% last favorable slide to the new record a Moving year. when margin. at and margin exclude Operating settlement operating
the execution strong in a contribute in Initiatives Enterprise basis quarter. Our on XXX with way points to continue meaningful
material quarter basis points points offset raw up price inflation basis costs dilution in XX to catching basis raw are improved actions the margin XX material on price/cost in And the as price a addition, in quarter. dollar-for-dollar to cost more this from second quarter. Our third than impact
organic includes a reduced that numbers year-over-year with organic XX percentage slide basis our quarter line growth line to XX.X%. normal XX quarter. all by to impact points related relative to in including key side spend margin. of impact some time the All-in, basis rate some as X takes, our performance is a drivers, It to additional and other on margin in points. by point this of to growth of rate our on color expectations and run puts I'm three to going X the quarter The heading the expanded operating the them growth third into provide down to comes collectively international end-markets left investment
quarter, XX% the is to declined availability production exports to business European the more This and of in in Automotive first in growth a in the business and this the X% led quarter. European in overall X% as the what auto both in consumer following the second in X% Based to one Auto our financing. was hearing, growth The Europe, China than OEM that expected. China. auto production second X%, new in in regulations builds lower emission production and quarter related quarter. appears the Overall, quarter. change growth was Chinese due international auto primarily in lower down following came sentiment effect change went we're on following our to X% second decline to this be into
Fluids some the experienced half, softness in result, XX% international up was flat. segment. few our China We Polymers served in a & As first business, end markets which our was a by
in segment solid Europe, automotive declined Brazil. & our Specifically international with and X% American contrast aftermarket for & as reagents of the our component which Polymers division in in QX Fluids X%. North up business, did experienced lower was additives demand, a our Polymers Fluids in Overall,
being can Specialty left and Products growth QX. Measurement as growth in see Equipment, international both Electronics had and and Food after of X% & three and from Welding levels spots sports marking quarter was of in XX% Finally, internationally. PLS segment declines points. significant appliance a coding, X full down for growth slide, demand after components. graphics you the in to with our divisions; QX bright apparel, there component in said, increases some gas, this accelerated to organic sequential That QX. down were activities Test addition primarily There versus X% and solid X% oil in the the were too recovery of percentage
with the gains. North up America, Let's starting for about ahead X%, was of Europe walk additional was right on builds Overall, Automotive America X North each of slide. and side growth organic flat OEM builds penetration China down for through combined. strong, points X% solid color, with the percentage with segment
and builds, with As Europe versus I in down flat line was builds X%. X%, down was mentioned, China
customers. with to European penetration generate solid continue OEM We gains Auto
reductions revenues essentially to build a Automotive integration, line to if of QX. for segment it year-over-year. would to Automotive basis. our related rates lower on margins declining on expense offset we've that in year-over-year restructuring adjust some calls, improved margins for discussed actually in was in hold these the challenges auto And the prior in wasn't forecasted Despite with rates gains, able higher European price have inventory However, resulting penetration acquisition
grew sector, the of solid, saw with both organic and X, and than which demand International and X% slightly We Moving with was up particular sequentially in accelerate was XX.X%, international investments related was record growth organic margin margin up XX%-plus. challenging the basis oil board. care By points America, XXX up and mid-teens mix. equipment points the North due segment. from X% slide consumer and X% while up X% Measurement of up a high-single down lodging equipment was XX%. Welding points remains XXXX. electronics, basis to overall, tough strong on double business The year-over-year digit had growth continued XX% Operating to slowed retail semiconductor remains unfavorable Equipment double was health to XX.X%. for as strong region, rollout slightly digits. due of Test on XX% international revenue due on Electronics organic and Food to was the Electronics and up gas consumables quarter more and to and digits. to the from X%, XX%-plus a XXX and America in business Global customer the the up the was commercial also growth by really XX% side, in Margin Operating overall half X% and up was institutional up expanded Instron markets up strong product slide first comp solar as Test a fairly excluding spot, and up industrial up and were North strength demand up Measurement X%. XX.X% up by lower a basis to both in major improved were to lower performance was bright XX% new and & equipment stable. X, education service. from grew with another & revenue QX were up the end X%. across year. with on On up XX
Fluids we down point solid As growth America. North despite in X was & discussed, Polymers growth organic X%
launches aftermarket New America. basis organic improved North in in than contributed points. XXX more auto Operating gains product by to growth margin margin and
XX with quarter, destocking. slide X% in and X demand the Underlying X% to essentially a up year. residential organic line outlook is X% on comparison on solid basis X% point in inventory delivered the growth. the was flat up and was solid Construction last up down the with too, QX quarter year-to-date way North Recall growth remains basis growth was operating organic Commercial with America looks rate. in and that for business residential as Turning a as improved points. X% Europe third margin the in tough led that XX. residential
in is is the side. As the packaging outlook QX. the organic X% year-to-date equipment. some spots in challenging But in on flat, X% packaging in and with Specialty, comps growth as slowed were also which also we for Overall, segment consumer growth equipment year-to-date basis, a packaging, year-to-date. about real bright is growth international talked the X% year our On about XX% up up there are
Moving raw material to XX update tariffs. on costs with and slide an on
actions impact of dollars a price inflation We to to ongoing raw dilution material way ahead pricing catching cost make on our are meaningful up and stabilizing. continue good progress in as the margin cost is price/cost as dollars are
to necessary to $XX the manageable view continue tariff offset as are XXXX. as in impact and We pricing million approximately the adjusting impact
China. of by fact ITW's As we is from where spend sell significantly the X% about our last exposure sourced talked in call, is strategy our mitigated only produce that and we the
the increases material estimate our carryover tariffs continue basis. to impact well we impact continue as million, a we XXXX, is pricing from XXXX. expect which including on based of inflation, as tariffs tariff For cost dollar-for-dollar will announced And any at to $XX raw around and actions all on tariff offset that
slide Let's the and on challenges go today. EPS XX deliver remain $X.XX to midpoint of guidance, our guidance year some track about to of we've we talked full despite
EPS returns midpoint XXXX, share. XX% as on In And expand for $X.XX earnings five-plus flows. to have the we $X.XX our represents range cash narrowed Our per and best-in-class free growth already you year-over-year. capital, as continue years, we will saw, operating margins, to to the last we
than growth year. basis X% in year, X% operating the of the we of Enterprise to contributed XXX to range. more For margins with XX% to again XX% organic points X% and expect this X%, revenue growth Initiatives
billion our the own $X the to is be for range. XX% our approximately rate year repurchase of XXXX to planning tax in are in and shares expected We
EPS growth X% year-over-year, X% current of based QX $X.XX, range $X.XX demand. with the guidance levels on is in Our X% up to to organic
improve Looking strength continue forward, flow in leverage agenda Investor execute. well that of high-quality our to finish the proprietary business operating and we model, you and on get next of portfolio, Karen, ITW's to the full growth cash years. we'll see to details free our team's time, we macroeconomic margins, terms the and X. the at to two Day to of divisions continue of as At of a deliver on wide best-in-class of remainder over to range and results our capital, our diversified across and remain we December on scenarios end-market work differentiated to to their discuss organic business returns job potential our back the hope We ability as you. many positioned
