Chris. Thank you,
to X. Moving Slide
X.X% quarter volumes Our lower foreign by and from from higher declined impact unfavorable a price X.X% a and consolidated exchange. acquisitions offset second a X.X% X.X% benefit sales as X.X% a was
second increased credit. LIFO Our positive XX basis to to due mix margin points and profit XX.X% quarter favorable cost, price a $XXX,XXX gross
flat and salary was expense exchange and acquisitions. from added in dollar incentive higher offset wage SG&A and Our costs lower compensation foreign favorable terms SG&A as expense
offset asset are Welding disposals from results a in as amortization by increased Welding. basis $XXX.X our gains International sales. and sales percent in of operating charges income to to XX costs, Operating XX%. $XXX,XXX integration to impairments, integration approximately item a of of transaction of and special SG&A step-up XX.X% primarily included income These points Reported XX.X% acquired International or on related activities, million rationalization increased acquisition charges. inventories asset
versus operating sales, income Excluding year. of special XX declined improvement point adjusted a X% items, to $XXX.X million the XX.X% prior basis these or
the tax XX.X%, rate was quarter prior second period. Our in compared year XX% to effective
period. expect to to extent of subject rate Excluding our second XX.X% tax half the the and second prior now and was items timing quarter exercises. tax stock effective XXXX in of with earnings low-XX% including compares mix future tax range, be special items, XX%. the rate discrete our option year the This in We
XX.X% prior quarter the compared $X.XX, to Second earnings increase $X.XX to diluted share year. per in
share EPS repurchases. quarter. the X.X% $X.XX EPS and share share rate Unfavorable earnings diluting to adjusted reduced $X.XX $X.XX, approximately share per effective exchange items, from per the from translation foreign Excluding in special tax per benefiting of by increased
moving adjusted XXX declined to EBIT higher X. costs, offset the $XX.X basis segments XX.X% and on geographical growth points declined costs Slide to segment's margin volumes, dollars million. to second investments price EBIT positive salary Americas X.X% as quarter acquisition cost. wage lower Welding Now adjusted and The
reported in Looking growth. comparisons. Americas reported business to at weakness volumes, against challenging welding of organic sales The sales X.X% spending automotive in the in X.X% prior industry in top decline and decline further prior and lower the automation organic a challenging line, capital primarily heavy due year year comparison XX.X% from a
Standard higher pricing the prior year anniversary equipment new reflects of X.X% introductions. segment’s The volumes price increased on product actions.
remainder year. to narrow of the the We expect pricing continue to through
direct general Americas a market sales also trends, end low and demand automation excluding and heavy growth in industry at channel rate welding organic experienced energy. fabrication business Looking double-digit the orders, increased at
we declined expected the benefited quarter in of and acquisitions year. the and the Xst. two modestly automation automotive to acquisition X.X% was rates. and in baker infrastructure balance of on April the Construction welding orders million sales auto contribute fourth $XX approximately from weaker through the revenue These on acquisitions timing moderating are Americas announced production million to on industries $XX
mix $X from X. impact million in points integration mitigate management exchange. benefits segment's the adjusted XX X.X% international of lower Slide unfavorable and $XX.X to to margin basis welding decreased rationalization improved moving EBIT to the improved and approximately activities in and adjusted million volumes EBIT Price help Now foreign The X%. to cost to
markets weaker X.X% end despite X.X% trends decreased European higher sales sales narrowed volumes. quarter. in the by except organic the the Double-digit volume was industry in decline volume Organic automotive led compressing quarter macroeconomic by all conditions in price to percent sectors in offset weakness heavy the and in in as China, volume declines second declines contributed X.X% weakening and region energy.
to million. basis Products Adjusted points XX% EBIT EBIT increased quarter accretive a acquisitions XX.X% on and Harris favorable the $XX.X to XXX margin to second improvements. Moving productivity mix record. adjusted Group, increased
in decline Harris fourth a business. the and OEM by Industries' reported a acquisition in products recognized weakness retail the demand also Worthington the the solid in benefit channel. channel XX Harris soldering volumes quarter X.X% offset as from basis of were aluminum in point
inventory XX% million, receivables. to higher $XXX to operations flows a earnings reflecting X. higher and Moving tax Working Cash collection the on and Slide increased of increased receivable. capital from
million capital the $XXX higher we and balanced to reflecting XX% $XX Moving to million maintained quarter, shareholders to returned million deploying approach rate $XXX payout a Slide XX. dividend We the in in allocation, repurchases. share
capital We with in $XX also expenditures. invested million the in business
We continue million. full in spending our be estimate $XX capital to the year to $XX to range of
million $XXX for additive baker invested also automation We strategies. our to further and the acquisition
growth will For and of investments and shareholders year, dividend the the to prioritize cash return through program repurchases. to share continue our balance we
like I call would turn to Sherry? With questions. over for the that,
