Thank you, and everyone. Renee hello,
Before I new built would the thank transition building my for community. and support begin, the as Renee strong and her looking like working forward also foundation I and with to I'm on closely her role. has to Renee her retirement investment more on congratulate I Rick to
to Turning operating our results.
were same reported company the to for costs adjusted due was productivity price Group The initial and both partially Intimidator manufacturing of offset improvement the to year-over-year and lower a margin the for addition freight, and primarily up XX.X% average. net margin from realization year. both gross gross last improvements, in XX.X% and by the relative material, quarter, period Our the higher at
quarter primarily driven in and X.X% XX.X%, was by net increase on last This earnings Operating percentage X.X%, quarter and as same XX.X% a expense, net period the the last net basis. was adjusted first to in a compared percentage sales XX.X% compares expense the by partially offset for higher as sales SG&A year. warranty year. the of sales This to leverage. for a reported respectively, period were of same
rates rates. respectively, year to was first quarter tax higher average up a to effective the and reported ago. for million, same quarter in $X.X incremental the same from primarily compared and for Intimidator XX.X% $XX.X borrowings XX.X% expense million the increase last adjusted and acquisition XX.X%, This to Group period year. fund due interest were The was and XX.X% Interest the the period
by $X.X last flows. This to driven cash receivable net year. billion, compared finished XX% goods, year sales driven million, by increase balance were service ago, a X% up organic from process higher to in primarily parts. was Turning and Inventory Accounts sheet and was our $XXX growth. work up
of this inflation. the addition, In includes impact
of last capital This levels $XXX the into quarter we was needs use navigate million in flow Accounts primarily additional selling and in cash. the payable a by to higher spring reflects supply as dynamics. working parts continue current essentially year. driven also process $XX This was same the service million, chain cash as were season. work Free heading
a majority generated with operating the year. be Xx second With quarterly fiscal to to patterns growth. provides to well fund This investments Xx aligns remain gross our to more of We in expectation expect in-turn the net sustainable we debt-to-EBITDA flexibility the sales that cash cadence, which financial supports sheet, of leverage our return the drive pre-pandemic. typical the This flow target half normalized balance ratio. strong within long-term our
Our leverage remains repurchases, through acquisitions, priorities include and dividends unchanged making and shareholders our returning that to share approach in both disciplined organically capital cash through maintaining to with allocation goals. and investments our business, strategic
plan technologies increase $XXX for to including capacity in compared regular by to to million investments, growth advanced These capital dividend $XXX deploy our highlighted to payout year. our this and million fund product XX%, priorities our new expenditures of year actions, and are manufacturing last
year, we our ahead innovative look expect strong products, we the fiscal in markets. continued key especially to remainder As professional of demand the for
reaffirming are to production. that XXXX are based earnings chain backdrop visibility, improvements incremental by situation our per our adjusted we sales dynamic, fiscal current increased the While full-year and expect and share enabling diluted are this the we remain encouraged supply we With on guidance. net
XXXX, fiscal net For expect XX%. range the to growth we sales X% continue in to of
sales continue at total the to net rate a grow than also We higher Professional to company expect average.
Residential below result of to fiscal the to this we slightly be fiscal as down, XXXX For a snowfall to flat segment, XXXX net expect sales now relatively season. compared the average totals
anticipate quarterly quarters. being cadence addition, typical larger In and a sales QX QX our we more with
that be second Looking With first we in higher half of XXXX, year profile. the profitability, margins focused in remain margin at fiscal expected year. improvement gross to half we to the the the with continue on expect our margin than improving focus, of
expected year to with as a net year-over-year on of operating a both basis. earnings Additionally, higher we for improvement in last margins compared expect sales, overall percentage earnings continue to adjusted segments
We by price net to favorable realization, be productivity improvements, mix. these margin and expect driven improvements
for expectations tax deduction of maintain This for full-year diluted benefit share. per EPS We range in the to share-based $X.XX compensation. the of adjusted adjusted estimate excess EPS excludes the $X.XX
to free interest and Additionally, about approximately full-year, and adjusted expect cash conversion reported of amortization effective $XXX we about the about and tax $XX of of flow for expense of XXX% continue of rate depreciation million million, earnings. net XX%,
the Turning of XXXX. quarter fiscal to second
estimate. company net We rate grow to full-year the than expect sales higher total at a
QX the a segment, rate [Intimidator meaningfully we company expected since Group [ph]. the rate, the For QX full-year growth than estimate, total sales but growth lower the full-year growth higher lapsed than given now has net acquisition] Professional
For estimates. and gross net second a sales operating the we a slightly Residential year-over-year for a margin lower on growth the total growth improvement rate profitability we than segment, perspective, expect the company's quarter, full-year earnings adjusted basis. expect From in margin company QX total
as year-over-year, For sequentially we quarter segment, Professional expect well higher fiscal margin quarter second first the XXXX. earnings the of be from higher as to the
fiscal For we XXXX. the down earnings the Residential of the higher quarter segment, be margin expect year-over-year, second sequentially quarter to first from but
as growth we for to our on continue long-term for execute all We our driving and stakeholders. business priorities on build focus profitable strategic value
I'll back to call turn Rick. With the that,
