Thanks, to very Please Mike a wish you and good turn morning. all I Slide X.
the quarter, environment. XM continued on back through fourth to challenging manage team the Looking a
managing better previously quarter, in Mike the logistic to costs respirators than demand. including were by rigor business. well across the revenues disposable noted, manufacturing, near-term and for driving XM executed invest businesses, the raw continuing variant the all as increased and expected challenges throughout operating while the December Though Omicron persisted team materials As
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expenses from strong last offset year’s discipline last partially As forecasted QX. and of These had year, with we legal-related year-on-year through at spending benefits compensation the start impacts also lower and costs. benefits versus along were higher restructuring
also markets, improvement, home in investments lowered to X.X share productivity safety, to in electronics. margins capitalize drive earnings healthcare growth, points and long-term prioritize impacts automotive, and and sustainability per including $X.XX by operating performance We All-in, large, percentage year-on-year. by these on trends continue and attractive
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points XX performance. of year-on-year. Next, foreign of hedging currency, per share was year-on-year to items a earnings $X.XX and were margins per our impacts, net impacted three other There share headwind basis that non-operating
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share. provided last tax to Second, a per earnings versus benefit rate $X.XX year a lower
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was with primarily capital flow last and legal working up was $XXX cash free CapEx litigation-related productivity was we free growth, restructuring adjusted the and performance along million invest and lower cash non-cash in sustainability. continue year-on-year XXX%. adjusted in The sequentially expenditures $X flow million, For and expenses QX $XXX improvements Fourth by year, year-on-year investments decline billion, capital versus conversion $XXX to offset free by QX higher were of flow full quarter million as in velocity. payments partially with which year, our cash driven
capital the full $X.X expenditures totaled at billion. year, Looking
During million. billion we combination shareholders of through and $XXX cash million to quarter, the the share dividends $XXX of returned $X.X of repurchases
billion of and repurchases. year, shareholders dividends share we For $X.X form to full the in the returned
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net to debt exited a X.Xx. of EBITDA result, As year the with we
Slide X, pursue maintaining to business capital and sheet cash financial allocation I capital our capability, Safety in group the million summarize which organic balance flexibility will strong in invest I X posted return organic a continues cash QX. nearly year-on-year growth provide strategic us turn performance strong to flow disciplined structure. Please opportunities Industrial to points. approximately and business, fourth This a along negatively while with to of result Our the decline sales for business, by our the shareholders, where Industrial’s included respirator with sales Safety quarter. $XXX impacted which and will QX year-on-year, X.X% and decline disposable start of generation an percentage
versus organically pandemic-driven comparison. XX% year’s mid-teens declined last business safety personal Our
disposable COVID-related XXXX. respirator that through decline anticipate we ahead, we will move Looking demand as
remain respond prepared to we as demand continue in However, evolve. impacts COVID-related changes to to
and double-digit increase the by Safety rest of a Industrial, growth and Turning organic to was closure led in masking.
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basis Electronics, on of organic an Moving continued semiconductor the which to Transportation chain and the supply slightly impact to due constraints. declined
Our in light truck business to organically compared the down was mid-teens year-on-year decline auto car global OEM builds. XX% and
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of OEM builds the our success of car and X%. global our to as auto For truck platforms. on year, was the internal record full Throughout our business we penetration light continued new gaining compared of low with combustion double-digits and winning year, vehicle and track customers up growth electric
TVs. electronics, business low Our semiconductor declines and and partially across continued organically, electronics-related by end single-digits particularly consumer These in strong demand offset automation were for declines our declined solutions factory with markets. and products smartphones
material costs. Operating benefits raw grew and along while impacted margins logistics million, were discipline and the actions. by solutions $XXX increase rest down offset impacts, Fourth benefits net with commercial Transportation XX% costs, declined year-on-year low manufacturing spending by safety down in partially headwinds from XX.X%, These income selling single-digits. strong price, were operating Electronics, of double-digits, XXX year-on-year. restructuring to high were increases Turning in margins productivity basis and materials Operating higher was high transportation up and single-digits, advanced quarter comp points was year-on-year. an
disposable Healthcare from which drag point of business, fourth X.X%. sales the a year-on-year result quarter organic posted in X respirators. nearly increase sales a our included to decline percentage Turning This
hospitality last levels, our low year’s pre-COVID QX. and business and organically, year-on-year volumes point in which medical Our to Fourth was pre-COVID XX% purification levels. be for Health strong oral near solutions global separation growth care declined vaccines food Information single-digits high cycle with similar which with driven sales solutions. we of increased be grew at Sales disposable business to In by approximately visits decline the this announced demand management filtration low percentage in Systems the safety continue from COVID-related as year-on-year, grew planned And single-digits, finally, high Neogen. single-digits and which for continued December, combined patient QX elective single-digits quarter were separation The a revenue will medical single-digits business the increased despite mid COVID-related impact in solutions and X clinician sustained impacts year-on-year respirators. therapeutics. included of procedure business, industry. biopharma
food $XXX year. end in of points. this Operating million, fourth Healthcare’s close income materials benefits spending down and by the sales margins Year-on-year, transaction costs. As December we disclosed leverage XX.X%, operating quarter costs expect operating from press negatively and release, were manufacturing These growth, by productivity, X% partially compensation on the actions. were was deal-related impacted XX and by were to of QX impacts benefits and logistics costs, the offset restructuring basis down margins year-on-year. raw strong discipline safety
Healthcare’s For the EBITDA year, nearly were adjusted XX%. quarter in and coming strong, full at margins
Lastly, with growth of of on year’s finished organic our year-on-year the XX% business top year consumer last strong, out comparison. X.X%
home Our holiday continue The to to each perform season well, customers organically deliver office, category drove grew Command during last home low and QX Scotch brands. on of safety our strong retail our branded strong both continued double-digits COVID-related for This businesses Stationery comp. in business and of growth demand to with year’s as Scotch-Blue quarter. Filtrete, improvement up along products with last single-digits improvement business and comparisons. the year’s low these strong lap continued our the top growth double-digit in consumer business, leading health
Care strong comparison. was posted the versus year’s workplace COVID our And resurgence also in of due COVID-driven Home up finally, business cases. Post-it We single-digits out branded low being growth strong to pushed last products reopenings despite
raw my we business million, Consumer’s QX. to compared quarter, small XX.X%, expected a took in income compensation the $XXX increased portfolio costs. flat impacts fourth from restructuring to Europe, year-on-year. margins last down benefit were by These was productivity is Operating care materials, leverage spending costs, divest concludes which flow points strong offset action good basis logistics impacted the year. on included During were our to manufacturing with which margins XXX goods Operating close manufacturing net quarter. along growth, were operating sales partially price higher in and and remarks and by performance, impacts, outsourced hard discipline actions. for benefits That
to the operating performance in make over environment defined year, it The constraints, supply end by like semiconductor this was XXXX fluid turn chain would comments past Mike year. I I back recap to few Before to a to on our reflecting material but strong, macro markets, along particularly further which dynamics industry. challenges, availability, These with the Uri and further compounded by mid-February, disrupted global logistics logistics winter led and significant in supply impacts ever COVID-XX, which global were disruptions storm raw from supply on healthcare chains. evolving to
continuity year inflationary the this production relentless pressures helped and year. XM to serving collectively strong broad-based team ensured single-digit managed All the ever manufacturing growth high of logistic of on of X%, these and growth. supply, segments posting contribute factors a accelerating focus with raw Against throughout all full backdrop, constraints changing organic material kept customers, plans, navigated delivered business
prices, headwind our helped logistics and rigor We along from with inflation net and data to or basis daily hard point operating year operating while improvements increased to our included higher selling analytics, actions, XX also actions, result XX.X% worked These selling actions. expenses. XX advance efforts data legal-related through on of deliver control execute materials in with full spending drive management, basis. margins restructuring leveraging to growth, organic raw spending price continuing raise and strong sustainability combined an year-on-year of points adjusted This down an basis on and to
to can in the navigate please turn improvement, is that, do will Slide for trust and XXXX shareholders personally fluid and in confidence a their customers for addition, focus positioned And year the of robust uncertain on We capital turn also always there our made and to for XXXX. challenges the billion. to very coming good are helped and of our for to delivering $X environment. year. Mike for free thank X. well that us In will which take the I to and more in close of to in XM and past to over his I customers continuous for we improvement, helped we at back continue and cash in putting strong want a us do. working and thank maintaining recap spirit employees adjusted want progress I With XXXX. another it flow contribute moment of And partnerships suppliers
