Good morning, joining everyone, for you and us. thank
pleased Let and as am I to me join call CEO. saying by today earnings President my start first how for you
month my energized over Just differentiation. I which underlying and business am our by into our advantages trends, X reinforce competitive new role,
to our results. demand segments. of sustained Solutions reflecting of and turn effective Consumer another drove execution our performance, growth and strong our quarter Flavor strategies We across Let's
in challenges the in line expectations Our results than anticipated. economic slower Consumer previously of business, Asia notwithstanding recovery our were China's our for Pacific across pace or with where segment our APAC, has been
sales highlights growth. with start the the constant for third delivered currency me Let We quarter. solid
improved effective price quarter to realize importantly, year. performance, China, We and each continue volume excluding throughout the realization, has
for in business McCormick growth. line sustained momentum top see to our continue We positioning
doubled to operating capital flow Year-to-date focus our prior income and on year from due expansion, realization. higher drove We margin the meaningful operations than more to year-over-year cash working improvements. relative underscoring profit
leveraging fundamentals sustained the demonstrates our of while for of execution performance Our our demand Flavor. proven strategies, and the the business effective strength
global third drove sales Turning In constant our strength of broad X. growth to demonstrating portfolio. the X% in we Slide quarter, the currency,
recovery in with performance, factors: pricing X% reflected decline by Our and a strong X% volume constant an was business in volume to and decline from X X% currency growth volume This driven contribution attributable our the mix. decline a a in Basics, product of business to related in the Russia China; impact business Kitchen to slower-than-expected of the and a divestiture our the decline Consumer exit of optimize low-margin of X% economic portfolio. and pruning
All other was sequential quarter, growth which performance improvement the where flat the quarter volume underlying X%. second and mix is approximately for a from total underlying was volume down
for believe will a savings now will CCI to long and drove reflecting few historical over our margin on inflation, and I beyond runway be remain income improving cover build. it is our share quarter, which focused margins from year take last term a our our would cost operating programs. more And will and levels like the believe cost a Mike detail. expect some that, in we continuous recovery and on GOE recognizing We time. that to return highlights there the recovery of to improvement the margin lagged We continued year-over-year, and gross pricing gross strong
in well for partially was as SG&A. Higher performance as gross profit by the lower-than-expected quarter offset higher China
versus As was planned, impact in a net X% back incentive to increased brand operating investments. adjusted marketing compensation we continue and build income increase prior The the year.
and and fourth optimizing to trajectory we results, our continue quarter portfolio with to our we approach during results focused our These cost reinforce structure, confidence expect in year-to-date. across pleased strong combined and beyond. Overall, the the with our are execution our our growth demand
China's we China fourth growth, the originally less Moving including to we originally anticipate than combined this anticipated, continue COVID-related expect of our expected portfolio, closer than led to can across to is in when the guidance has reaffirming lap which impact, sales performance, and we as our are however, disruptions. year-to-date with be into its expected. top lower however, to the be will our quarter, momentum range. now our XXXX Despite benefit line results we a middle year outlook, full growth
reaffirming stronger than business, on Demand income highlights originally are strong. our outlook, operating expected our which realization We is China. profit excluding
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China, for tempered Now the mentioned Notwithstanding which earlier. on as We pleased our China, we by Consumer due results our are segment. our EMEA, with X. solid our across Starting APAC performance were performance. and by segment with Americas Slide region saw to underlying I
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Americas. First, the in
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will restoration growth to drive time, we take before, expect said as to and continue progress. we some we As
our optimizing gains, driving to distribution addition In have a on supporting focus we pricing. continued brands and
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yielding are efforts Our results.
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recipe mixes, the our position U.K. during share And extended we leading third quarter.
share New products promotions in-store gains. and effective drove
continue And we to the the Cholula building hot also distribution also U.K. in of are in growth France. leading quarter. We Cholula growth drive to with third sauce in category
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a season. expecting We strong holiday are
up the Wrapping update. consumer
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turning Now Solutions Slide to XX. Flavor on
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Italy. segment, third to low-margin in it of divested that our we our mention divestiture core As while in quarter, a in operations part not prune we product growth. continue This EMEA focus resources Giotti Flavors divestiture on this business, want to Flavor canning I the Solutions have and category further more small did Mike of business our region minutes. to impact will future on allows which us impact our the drive a in was few the
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focus Our well insulated category and technology our Flavors and are continue consumer advancing our the part our Flavor to driving leadership. proprietary and to in and our on us our growth XXX% value-added and win advantage insights product reach, unrivaled platform positions of an us portfolio, technically breadth flavor, gives
products, And expect branded increased to heat penetration, in expertise new foodservice, in partnerships continued drive culinary and growth. our we menu
margin Solutions plans and leadership growth continuing well bolster in and Solutions our Flavor execution driving Flavor our proven growth robust of our as our Our in confidence effective strategies trajectory restoration. as
our Mike financial I'd turn to on details it Now over to performance. like provide to
