Thank you, Dale.
X. and Turning segment provide I’ll overview to operating our briefly results. consolidated our then results cover of Slide an
we each Segment Before that is reporting equity we’ll business EBITDA amortization as segment. to non-GAAP out depreciation, a start so results, moving financial results I continue measure income income and QX method for EBITDA defined discussing plus for and that operating forward. and do segment I’d for to point segment like began is
net to from we believe adding Lydall provides evaluate was segment and back results, generate reporting of as consolidated this provides of income ability it other EBITDA the method. We basis the and which core to operating segments income indication approach, is each and no performance There a cash. change, have an by income from of taxes, interest reconciled equity adopted expense
the operating with adjustments up. that or these items step also details segment and as reporting in related financial provides will which EBITDA, one-time adjusted on gross inventory purchase provided adjust and In adjusted current margin results XX-K. addition, metrics for report strategic release consistent to accounting adjusted such important press our we and are unique practice The non-recurring, restructuring margin, initiatives,
$XX.X of million, $XXX.X $XX.X contributed were XXXX. growth. quarter Moving the XX Acquisitions points on or million million Sales this to fourth fourth financial segment XXXX percentage quarter or the results. in in Performance XX.X% of up from Materials
adding where exchange dollar. million, saw to and of $XXX.X $X.X The resulting primarily segments acquisitions, which Thermal timing the for sales China points year-to-date our customer Nonwovens, X.X Technical organic of by tooling growth primarily to company points tooling driven that X.X% down Acoustical new in with growth weaker and was the year. and and the full in sales tooling of Foreign growth, XXXX. inner XX.X% And primarily points, includes sales Euro million Year-to-date, of that seven up Acoustical revenue impacts $X.X points million, showed or Thermal a and fourth accounting All adding organically Note a for Solutions. recognition sales X.X software X.X in respectively. was X.X% certain Solutions lower Technical of was recognition Nonwovens. to related on of standard orders sales sales compared quarter Canadian FX flat headwind organic and
down basis reminder, to a of fourth quarter Reported net Lydall As tooling contrast XXX year. costs profit recognizing delivery upon the margin prior acceptance are gross from practice $X.X impact as under over time revenues customer. The to predominantly sales of was tooling to new points million. incurred standard, and recognizes was the the in gross XX.X% prior
items, Entering of the quarter earnings ordinary earnings XXXX, and to share the margin basis to discrete of prior Tax reported primarily from amortization, million, of inventory and was of of related compared fourth basis in down EBITDA higher of items, where SG&A Interface these adjusting expenses the to higher Nonwovens. the including reported down XXXX discrete of earnings the $X.X X.X $X.XX $XX.X $X.XX adjusted regulations XXXX labor consolidated operating XXX expenses impacted other per Act, amortization in to Consolidated a Fourth The be margin Adjusted Solutions items X%, items, from million the points margin were drivers EPS quarter commodity favorably margin related tax to of for year, in of both in of points quarter related We the inventory by compared for of XXXX Year-to-date would to in expense step-up million the restructuring quarter prior basis percentage for the by Tax expenses, XXXX incremental primary points new periods, XX.X% X.X%, this and corporate third $XXX,XXX per with $X and drove Adjusting were Reform of points impacted related tax for was of Act tax costs expense. of $X.XX $X.XX, strategic severance range up year, the intangibles discrete the is we charges rate compared offset with XXXX. XXXX fourth related quarter this rate of to Thermal consolidated the initiatives $XXX,XXX amortization, in adjusted up SG&A sales was Reform tax erosion to the and basis adjusted adjusted higher points. overhead $X.XX quarter quarter XX.X% to activities. and $XXX,XXX down tax operating rate Interface million XX.X%. XXXX XXX achievement difference. XX%. fourth been diluted and fourth related in quarter fourth Acoustical was benefit of period was costs XXX and severance XXX the contributing when was tax cents XXX and strategic from share pay mix acquisition, anticipate $XX.X sequentially XXXX where this by adjusted including of EBITDA quarter from expenses X.X% have acquisition lower or in higher unfavorable one-time in by points restructuring $X.X Technical effective of the which from metrics. reduction restructuring higher initiatives, for sales. in XX.X% resulting $X.XX compensation negatively compared effective of financial $XXX,XXX gross lower Adjusted XX% The for rate of delivered to tax Excluding or was inventory the step-up acquisition incentive quarter, target and million on XX% was spending range fourth impacted basis of XX.X% step-up, clarification the XXXX of an gross
million, year, For were EPS provided including by operations of primarily reductions $X.XX, amortization incremental driven receivable. $X.XX expenses. in adjusted flows at is quarter $X.XX the $XX.X in the down full strong Cash fourth of accounts by
For decrease XXXX year and totaled with flow million. of compares $XX.X higher cash the cash This the working driven lower by capital. with full from in operations income net $XX.X flow XXXX, million
liquidity of million. the cash accelerate debt XXXX. $XX.X approximately quarter credit generation XXXX, working adjusted Our was was fourth we cash remained times XXXX, X.X X.X down to approximately $XXX.X look Total reduction from of end debt debt At the and strong. capital million Entering from areas paydown. a key of their at for year-end third quarter outstanding ratio net times facility will EBITDA focus be as in
it XXXX, of the $XX million $XX spent with spent $XX.X $XX.X million up Lydall expenditures, XXXX is year our million spending quarter in from million. fourth prior of quarter relates capital fourth Full to in of and As consistent the XXXX. $X.X guidance million
to For investments acquisition of to XXXX, organic spend to by impact the million support year segments. we million, $XX full discrete all anticipate to the in driven growth and capital Interface $XX increase
Finally, Plan, Lydall U.S. the XXXX, which completion with Lydall XXXX. during fourth the authorize of of termination anticipated Pension in quarter
provided As to will cash non-cash million. $X $XX pension estimated million we of estimate in $X under primarily incurring plan footnote million million detail a contribution. $XX on charges result, approximately with These expense the of the Further charges an consist currently is XX-K to also XX.
X.X% higher million acoustical sales I’ll I’ll Acoustical providing flat domestically of business Slide sales thermal exchange, $X.X power underbody, Euro China, in part sales global and lower shielding X, in train by Tooling primarily segment of Acoustical down we’re applications. were one this sales start quarter our our and $XX.X hood, exhaust and sales down lower in that Thermal and with foreign million with Fourth shielding our $X.X vehicle innovative-engineered segment. sales Solutions specializes is points. Moving $XX.X automotive in under partially growth results. for sales Thermal discuss Europe. offset XX% to million, by This Solutions reduced the part Net organically. were million business,
Adjusted EBITDA to from and quarter, X.X% but sales in a full XXX have margin XXX we the third basis quarter compared by basis labor the organically. reported from segment For quarter costs overhead margins continued XX% Higher on points year, year, points and X.X% XXXX. fourth improvement prior XXXX. grew impacting of declined seen basis
total aluminum margins was The for commodity XX and costs aluminum premiums pricing costs points. While by basis unfavorably including domestic down conversion impacted marginally year-over-year. index higher for
continue monitor of global trade actively to context discussions. the given We commodity pricing dynamic current
Finally consistent with prior margin periods, to basis compared basis prior expanded note, by points segment customer price quarter XX of by impacted XXX margin compared with third reductions EBITDA XXXX. year. points, Of
For the XX.X%. segment year, full was EBITDA margin
our the Slide a Moving of Performance performance variety industries. engineered in Materials business I will This markets materials myriad specialty solutions across solutions of insulation portfolio provides end filtration and to X, broadens the ceiling to globally, with cover addition segment. interface
consists previously prior included filtration were for was primarily $XXX.X temperature including of acquisitions. $XX.X $X in Precision from Filtration favorable segment and applications. of headwind Full $XX.X and of filtration applications X.X%, and previously a $XXX,XXX of the sales Thermal integration. million essentially X.X%. segment. growth million year year, of the Fourth reminder, or reports acquisitions Sales and consisted or of up including slightly Insulation, sales for specialty the prior higher modest XX.X%, high foreign million adjusted expenses from sales. million organic product million slight $XX.X with insulation ceiling reported of encompasses with a and filtration ultra-low of applications with sales step-up, as exchange higher data to from by $XX.X gross temperature offset at under gasketing Sciences well applications, quarter organic resulting materials, compared million margin on two year EBITDA quarter, reported growth the associated Ceiling FX air sales flat Interface segment Interface expansion inventory margin was sales XXX% SG&A for netting as under the which Advanced cryogenic and Lydall the Life Solutions legacy interface As categories. liquid under of performance Filtration new
XX For is Materials Performance our to business basis points million line a year to EBITDA contributing the in sales solid margins Interface to segment grew $XX with XXXX adjusted EBITDA expectations the over XX.X%. in and full by portfolio. accretive with start, margin off in
$X.X purchase adjustments XXXX, incremental As inventory a recap, amortization million $X in million. for step-up were accounting intangibles was and
from inventory XXXX, for expect Moving XXXX. expenses not adjustments But $XX.X we previously an amortization we as into estimate related to million, of increase further any discussed, do million total step-up. $XX.X
As Slide well automotive, filtration deal geosynthetics, XXXX, expect to air a be for minimally in will reported result, engineered to products X in accretive as among media various applications we produces covers segment. commercial industrial accretive such cash our EPS continue This it Nonwovens while to liquid XXXX. as other Technical and the medical, as in others. be use and segment
fourth we America. quarter exchange sales fibers construction compared closely driven Sales in of million healthy of a contributed. X.X%, XX% a XXXX America increased material in X.X%. profitability sales in meta-aramid by were decline and perspective, down regions lower period labor basis Canada, for which impacted monitoring mix primarily by but fourth particularly of From North partially felts EBITDA a costs, software Backlog unfavorable was gains shorter sales foreign all remained by X.X% Thermal XX.X% and of weaker quarter XXXX, segment a Acoustical also lower down solid, net costs, in of adjusted for to or were For Higher the and customer Materials XXX down unfavorable China. were down margin higher $XX.X in to dollar. points, are of of million lower were on pricing. Canadian driven $X.X absorption sales demand North of with Filtration China XX.X%, needle organically offset Segment Advanced orders, net Industrial in timing Globally, by
in $XXX,XXX the segment compared expenses adjusted in period to quarter, or the year. of basis reminder, points restructuring XX ongoing a activities last excludes same basis related As $XXX,XXX points XX to EBITDA or
actions costs basis adjusted higher by points were Nonwovens principally offset full partially, XXXX, XXX from on driven down year full pricing segment and results. that not was top materials fully EBITDA in year XX.X% favorable of mix. driven the generally we year, our but For Technical unfavorable and That by quarter healthy Year-to-date product fourth full serve. was growth review the the concludes end markets line demand
XXXX, the portfolio, Interface the acquisition operational As remain completing Materials and into and can we and we Performance enter restructuring Technical items the that on focused integrating we continued improvement control, Nonwovens operational continued these performance and improvements our flow generation. to on end position begin deliver session. we in cash solid strength XXXX. will that, our us question-and-answer in With Leveraging performance markets
