wish I morning. all and Mike, you to Slide very good X. Please turn you, Thank a
As consumer We electronics, along significant trends played out with shifting Mike weakness retailer and in industrial quarter and macro mentioned, have end consumer the spending first as end-market the destocking largely anticipated. markets. mixed experienced end-market patterns
the in ongoing to navigate Europe. challenges also geopolitical impacts We COVID-related in continue and China
the challenging deliver was we to expected lower-than-expected coupled a enabled relentlessly focused spending. and These to customers foreign serving Given on currency than the better actions, us our took with a actions aggressive first that year, quarter to and costs forecasted. headwind, very manage start
First adjusted or X.X% was down $X.X quarter sales total billion year-on-year.
from focusing translation. addition currency sales foreign to quarter a first headwind In serving sales benefited smaller-than-anticipated from on to customers,
$XXX translation was X% The minus versus first X%. to impact quarter or a million minus of a forecast approximately X.X% minus year-on-year
sales largely from from was also This divestitures a deconsolidation XXXX the approximately of decline or X.X% We $XXX last of third decline year. experienced Food Aearo quarter divestiture with million QX the versus Technologies. along Safety,
expected lower in disposable On an decreased points the Russia $XXX third respirator first basis, our result year. X.X headwind versus of last exit sales an year-on-year demand included approximately of million last quarter. and percentage to organic the operations in related adjusted or This year X.X% quarter
X.X%. sales organic adjusted QX decline, growth this minus was Excluding
of XX.X% margins billion First $X.XX. operating income $X.X adjusted quarter was with of operating adjusted earnings and
manufacturing last margins basis sales year’s to and our offset lower and pricing net Turning of earnings were the to points able a with headwinds to and to volume, This operating reduce QX aggressive We margin first resulting our the earnings. mentioned combined cost impacted performance, quarter. management, quarter first components in margins lower lower efforts year-on-year $X.XX performance these volume. and versus sales resulted that partially through inventories, reflect headwind productivity in earnings to XX previously
and resulted operating disposable of a of As Omicron-driven Russia. margins impact in earnings negative share. of This with points from operations X.X QX the along mentioned, challenging in comp to to demand, per exit headwind faced comp year’s we percentage last respirator sales $X.XX a
the continued $X.XX focus headwind adjust charges basis actions and $X.XX end-market inflation or of raw in to the or The supply We headwind on higher executing a and logistics point operations, approximately impact our demand. organization energy negative carryover to to on including restructuring year-on-year basis to to XXX manufacturing earnings earnings. $XX million slowing and streamline improving chain margins million and of margin Restructuring were year-on-year quarter $XXX of created our XX share. points cost to operating a and a impact per material,
to in negative was translation headwind to Aearo of the a earnings $X.XX sales. resulted margins with to primarily share. Divestitures, resulted XX currency Food foreign per Safety, to year-on-year mentioned, a along points $X.XX X.X% total basis the headwind of in This quarter. share and per impact in a Technologies, of earnings deconsolidation As
increased $X.XX higher non-op count, other pension year-on-year by by share partially items financial net earnings Finally, offset by lower per driven a expense. share
to turn Please Slide X.
XX improvement. This up strong percentage of year’s cash on free versus particularly up conversion inventory adjusted cash compensation improvement capital points incentive last approximately XX% lower focus by QX. management, annual with million, quarter was and year-on-year XX%, flow working driven year-on-year $XXX First a was
During we the driven align last levels Since in million quarter, have production August, continued trends. inventory address levels. we an with manufacturing reduction end-market to to $XXX approximately better
up quarter, and as in see expenditures will year-on-year Adjusted As we we supply said invest $XXX analytics, growth, data million and and in the we before, the capital sustainability. in a data productivity chains heal levels. of XX% progress I’ve reduction use inventory as to continue were
we During at debt the X.Xx. QX at shareholders. quarter, returned $XX million net with down at the year-on-year to billion, stood nearly debt-to-EBITDA Net XX% of $XXX end
Please for and down exit or business, X% turn This business to Russia. of Slide of performance. of headwind sales last year-on-year to with X will I our billion start a $XXX year’s which Safety comp due included posted Omicron-driven and $X.X disposable Industrial organically. demand result group million our respirator
from the respirator Organic respirators abrasives, in disposable primarily growth business X% markets disposable the increases Industrial electrical nearly due to Safety was single-digit impact and and by organically mid-teens decline and personal safety led Russia automotive QX. sales aftermarket, exit, in while demand. the declined Excluding high in grew
the respirators, low Excluding digits safety the organically. disposable from business impact personal double grew
declined industrial systems And was on down rest down due adhesives back single-digits to to pull Safety Roofing closure and low consumer Turning low digits. discretionary consumers single granules growth spending, Industrial, high of single tapes softness. and organic impacting and shipments. e-commerce electronic the as masking digits in were
offset cost These aggressive carryover logistics and from raw down was material, impacts year-on-year. discipline million by chain from points year. income challenges. pricing, were headwinds energy Adjusted headwinds, COVID-related headwinds by partially lower driven Margin XX% productivity investments XX.X%, margins X.X in and were sales inflation, spending volume, benefits were and China actions. the manufacturing business versus down operating or Adjusted last supply operating and percentage $XXX
a on Transportation posted in which by Electronics electronic impacted Moving and decline to declined consumer $X.X significant year-on-year, billion. Adjusted devices. Slide organic for QX adjusted sales X, demand growth of XX.X% heavily
OEM truck and in auto year-on-year, global increased builds. approximately car with Our X% line light business
and continue build over run. platforms automotive rates the to expect on penetration to We new long outperform gain
mid-XX% aggressively the by saw Our be continues TVs. declines adjusted weakness business significant electronics business organic to end-market in for sales along reducing tiers particularly smartphones, with range. and This inventories, and tablets impacted OEMs
single headwinds high operating XX.X%, Electronics. Adjusted Advanced of to operating Margin chain headwinds inflation, year-on-year. actions. benefits material, were growth year-on-year, aggressive safety digits and headwinds, energy Transportation manufacturing in and challenges. organic Turning These supply and and percentage adjusted and driven by adjusted delivered from margin solutions Transportation pricing, China million year-on-year. Materials Electronics in declines, and points income, down and rest spending cost sales had the discipline partially raw from $XXX commercial volume while the of down impacts X.X were XX% transportation both declined. COVID-related was by offset investments business productivity carryover logistics
at Healthcare XX. organic with our Slide were billion year. of Looking X.X% on sales QX business growth versus $X last
strained the high oral budgets. declined the digits year-on-year, of organic business post-COVID-related Solutions our Medical Health QX of approximately Systems grew sales single to single and exit hospital on organically biopharma while to grew X%. Healthcare flat normalization digits impact Sales due purification Russia, the Excluding Separation and Information demand. by due in was care low
First procedure impact as strained levels approximately XX% of shortages quarter volumes pace to nurse budgets were continue and healthcare pre-COVID of recovery. labor the elective hospital
to volumes procedure continue we We to through expect the year. progress as improve
$XXX percentage productivity headwinds, Year-on-year, points. carryover Healthcare’s aggressive year-on-year. benefits operating inflation, operating raw margins headwinds Operating These and first the by million, income were quarter in actions. XX% supply offset by impacted and down material margins down partially manufacturing pricing, cost and logistics, XX.X%, investments chain were and energy from spending discipline, X were business. was
digits. in and and our XX, care office the Organic home U.S., and year, auto have down sales X.X% was of low last Stationery posted reduced slide aggressively year-on-year particular $X.X while organically. items health with retailers high on which first their single year-on-year, single quarter organically business weakness shifted inventory Lastly grew digits declined have declined home billion. sales spending first-quarter consumer patterns Relative business improvement, the more to their consumers to levels. non-discretionary
as year. remain we consumers through spending forward with cautious move We expect to their discretionary the
supply to of Consumer’s first quarter year year-on-year X.X margins last operating pricing, actions. year-on-year. and by discipline were million, points and productivity inflation. manufacturing $XXX income and with headwinds operating benefits cost was carryover volume, energy by margins XX% down The down partially operating aggressive sales chain material, spending offset lower in headwinds driven and logistics raw These percentage compared from decline XX%, was
and our our remarks concludes discussion Please Slide quarter. for the on the turn first second That the a outlook quarter. on to XX year for
that macroeconomic our remains a We and uncertain. full are reflecting maintaining year guidance, very fluid and end-market environment
expected second half Our in in improvement outlook the forecasts, continues including to macroeconomic incorporate China.
our of the ongoing We improvements help also support anticipate continued will particularly healing chain in working global supply chains, cost reductions. operations, with which and inventory performance, supply manufacturing along product capital
our includes in be minus Russia. adjusted As an to the the the from of exit X decline is year expected ongoing headwind point impact with from estimated to organic demand, range a X% sales range full reminder, percentage disposable along our in respirator of flat. This growth
free XXX%. forecasted cash in the Adjusted year adjusted of per in to $X Full are conversion of earnings flow XX% to to range expected $X.XX the be share. range remains
the our second outlook quarter. for Turning to
external QX expected year-on-year The global we QX. to and and First, at retail currently experienced consumer consumer electronics softness sequentially. to GDP in forecasts, continue expected and both is improve are in looking into IPI macroeconomic
expect We are sequential are expected QX industrial remain healthcare and to mixed. increase auto end and year-on-year bills, procedure to in to anticipated both be levels markets while similar volumes
to count very quarter travel, the year, cost aggressive challenging implemented and on first we external As given the discussed, controls the services management. start in advertising, including head
to improvement through and disciplined, half the support future. will into the expect in the end-market we to progress as While we investments we demand increase remain year second
last to year-on-year divestitures mid-single X%. billion X% Organic of digits, of expectations total be to QX is sales be billion and year-on-year in for $X.X disposable versus year’s to headwind headwind these headwind sales range year-on-year. which finally, adjusted to respirators. or $X.X X% forecasted versus the foreign billion translation down X% $X.X are from expected currency year be minus approximately approximately QX low of the last minus to factors, our X.X% down And a is to for Including includes expected a to sales
$X.XX perspective, $XXX quarter $XXX to earnings million pretax or million that range estimate EPS restructuring will including costs organic $X.XX, a softness to $X.XX the increase continued to $X.XX share. From interest the and also an per of tax of higher and incorporates an in of in be range in rate share expected This per non-op second sales investments, adjusted XX.X%. we to adjusted charge XX.X%
pivotal execution is XXXX a an wrap perspective. XM from To up, for year
aggressively as we the focused year. cost, serving on end-market markets weakness, consumer-facing mentioned, customers I started in As particularly while we managed navigating
stabilize, COVID-related and will comps China retail expect its work our consumer markets sales consumer ease. year-on-year We organic electronics as volumes as improve challenges through
The I hard we improvement provide the started to their enable exit future. actions and for significant into us for thank margin delivering our and announced their and we XM the our work for XXXX customers. today to they flow as want customers will dedication continue and stronger for employees cash and than suppliers partnerships
That concludes my remarks.
questions. now will take your We