a results financial available be I Today our But to slides begin, presentation. for full-year before on reminder, on reviewing the Thanks, three XXXX website basis guidance and to and Vic. call. morning slide fourth I everyone friendly providing will Good I as details our will our of XXXX. quarter and be initial the referring
a quarter share four Adjusted per fourth points. rate, count. tax were Beginning driven of earnings, prior XXX interest diluted and on lower for share slide expanded X% reduced Adjusted EBITDA results, and increased XX%, increased sales XX% million lower $X.XX year. up of our versus basis $XXX by a expense margins grew earnings
rate With tax to versus was XX% quarterly XXXX. regards QX taxes, XX% in our
Both was XX% we discussed year, full for only outlook. our versus WAVE rate, of tax gain and to XXXX. the the full rate full-year quarterly the the were rate adjusted For year our the quarter for last XX% favorable
to we quarter, stock-based adjustments compensation. assets tax related determined necessary fourth our reserve that were to tax the During deferred
expiration rate from the Additionally, tax the fourth state of quarter benefited statutes of limitations.
a taxes the range. the we XX% in more XX% stable -- tax rate cash to mid-XXs, forward, expect Going XX% with in
million million they up we the adjusted cash Absent XX%. dividends in dividend to period, $X are years as as typically cash was flow every the three million base last years $XX delever. Adjusted the lapping year WAVE WAVE’s year’s dividend. and free earnings special grow occur over special free or $XX prior XX% or four special by flow WAVE These declined
by and of MRK, year, activity Net $XX higher the ACGI payments. debt and primarily share repurchase than is acquisitions last million driven dividend
X.X of allocation net of end EBITDA the the us to capacity our to is our and of leaves As priorities. fund capital and plenty year, times strategic debt
average we quarter, at shares repurchased have the back cost Since $XXX an of In program, stock. for million $XX.XX. the we of million repurchase the bought X.X inception a $XX of price million of
we year, remaining the end As share a of which our had October through XXXX. of runs $XXX program, under repurchase the million
with contributing positively. Turning segment and strong from gains, drove and segment growth quarter strong now EBITDA adjusted item WAVE. contributed slide line Specialty Architectural performance Fiber volume the Mineral increased a five, to manufacturing XX% The every AUV
tailwind related related quarter fourth Gap] to locations total special WAVE of lower $XX of items XXXX, period flow the in cost [Audio Gap] Input million had prior [Audio we WAVE were from modestly period dividend expenses million year-on-year, international was year one-time and repatriated were and free with XX%. and we flat some for $X partially a cash the due a SG&A from are base up
in seven product driven begins the continued portfolio, or X% quarter, the prior gains, in mix our Fiber pricing X% $X at quarter reporting, economy Slide reviewed, uneven the was sales driven year, business segment factors the Mineral by increases volume and Canada. million like-for-like a AUV low softness by end improvements were our and versus in weak flow that’s grew down of
the were XXXX XX% AUV our EBITDA the from the gain also of quarter performance operation that key manufacturing margins partially up QX drivers in in from earnings or strong million basis expenses were expanded mentioned versus items was Adjusted a points. onetime lower as prior impacted XXX and by earlier. WAVE I growth. $XX year quarter, SG&A strong
Specialty in the the Vic which lead including addressed a impacting large prior impacted increased Moving an versus Architectural supplier factors sales extended projects on that issue the times slide sales. X% sales quarterly Architectural segment base and period to year. our transportation eight, Specialty with
sales increased on You in to acquired businesses. related our we XX-K will have our see that our disclosure
of part optimize integrate these sourcing our strategy, our As typically we businesses, productivity. acquisition when to we move new
includes Consequently, this choose in XXXX. three acquired Separately, to we be XX% XXXX, in acquisitions our all the closed between guidance which to to to our our Specialties. total of Architectural we January This prior guidance are new for disclosure includes businesses. will than acquisitions frame is the why to incremental existing terms greater close and manufacturing changes one in-sourcing X, targeting business, which
margins companies, versus quarter added acquired in in sales was Adjusted acquired cost Architectural EBITDA in with and basis excluding up as XX Specialties expanded year investments design our X% points. prior in associated the and businesses our support expense. EBITDA XXXX
expansion versus now of increased of XXX EBITDA XX% Turning slide prior for year, prior to up nine, EBITDA adjusted X% were $X.XXX full year and sales driving the basis year, margin versus billion points.
$X grew driven share XX% Adjusted free year, taxes per X% a increased or Year-to-date, flow share hours up grew and very dividend, excluding lower free was WAVE or flow XX% profitability, earnings a cash of adjusted year. XXXX the count. reduced diluted special $X.XX, prior versus strong prior by $XX versus million cash
performance details resulted embedded the offset gains lower performance was driver segment in AUV in spending. combined solid more of Strong WAVE increased the year. Mineral volume with profitability versus in factors and Manufacturing profitability. XX to increased for at manufacturing up gains the prior year. to Slide costs Fiber segment, fixed adjusted SG&A acquisitions. bridge our in results When our productivity EBITDA Specialties our the Architectural the These than XX% key
performance. earnings XXXX growth cash for free the the XX operating the flow factor by performance, cash key Strong year. of Slide in driven was drivers flow displays adjusted
for again to acquisitions continued provides year-on that sales from with and the to our in the higher will guidance drive in digits of Specialties. combined once expect we increased incremental AUV XXXX sales grow growth, in penetration Mineral acquisition XX ACGI Fiber with Architectural year-contributions segment high-single initial future Slide expansion XXXX, our
continued from lower our normalized that EPS aided will higher tax lower WAVE. from expense interest productivity rate and increased from in growth Adjusted a as rate XXXX. Our also and manufacturing count a profitability will benefit share offset be tax will contributions
We grow or XX% expect our double greater share. $X X% flow, than or digits per cash of to sales industry-leading to
I to Before like turning item back call is finance there the a discuss. to Vic, that non-operating
retirees into seen, week, just related pension an we Life. XX,XXX Athene $X obligations have to agreement over transfer entered last approximately of likely Annuity billion to you and to As
had the size XX billion made for the significant has Armstrong than size. years company in a While for not an more overfunded obligation many has pension over cash of our and years, a is total contribution $X.X
greater It tail our position. reduces relative and significantly on retirees transaction protects the with even this overfunded balance such, plan. remaining our plan to leaves sheet As risk the an
quarter we transaction, As a a expense million planned partial non-cash first and of result XXXX, a charge. million in as non-operating of of to a $XXX record this range the expect settlement of expense the to $XXX component reflect in
pension and financial income, this will As from results. our adjusted exclude with other non-cash we expense
contributions for a shareholders, We all is and have cash do as to will not to retirees, and in result Armstrong years. This anticipate a pension the not great coming make transaction this any contributions parties. transaction our of for a our the win-win-win
building confident and business Specialties our EBITDA single-digit I consistent I To execute value X%, delivered we have am we pleased acquisitions two more high and growth once sales with results sales up in XXXX, model. adjusted again to double-digit the Architectural deliver up the close, with the our XX%, place growth, further adjusted EBITDA capabilities am that plans and to were out in able creation strategic
use We cash business, generation strong and our and We liquidity and can invest fund have cash sheet the to very special. is annual this generate free truly a strong unique further believe acquisitions balance We strong in every cash return to we of shareholders. our business year. generation and flow cash
will expect another free be flow cash XXXX generation. of year We strong
I turn Vic. that, With it to will over back
