Thank for good everybody. participation today. morning, you, your Cathy. Thanks
the been and thoughts to Before Slide first by our just that virus. have X, lost to that those our a crisis affected have of all as want I extend the result deepest sympathies those out to I into get go ones loved
through efforts I'll around in presentation. their own and about Parker and later crisis. support you all the in dedication have professionals world to their the help the way thank we on to done their special more courageous also care what and A for the society small thank our like this health I'd members that elaborate team in all really, to for
very So this crisis. that's having health a overused and combined times word given and but a economic is uniqueness probably the appropriate of that's unprecedented
a that. proven performance our very from our now we're Win operating strength is in X, revision for comes system really third and The of of Strategy, these Slide crises which and our on and So both powerful
and been more evident are A that and world make of today's that things this products the needed portfolio technologies absolutely and in We needs. climate. important has never
Our and Star, stay Parker join about I'll purpose, the talk which at our our and why is been and which people has our actions and purpose our our connectedness culture on. later values, North more to of
engaged team an have people. we And of
during We the move what scores have is to and with couple decentralized us agility has engagement quartile you speed that at our divisional structure, this enabled crisis. you've seen and top that that
our crisis threefold. management is strategy So X, on really Slide
team are we First safety families; and we to is why our this we the of second is essential, members over. crisis, after ever stronger than crisis the through emerge society And before to you we is more do want about talk and are essential. I'll their that help how
really, week, on We and daily side that's that a January. wanted have make team, functioning. started in I of we really has have the cadence safety has every have team how to been had key focus a about well, utilized days this since as their and we things. with a executive We've all been crisis response the and for structure corporate management it the team country health and seven in comment
and decisions. see enabler our advantageous where us a it's to speed other, So and quickly all zoom very been we still to XX key type executive do of to conferencing, physical well. company, make been to That's top coming to the say have and team, the in those distancing executives decisiveness each have we but very the things, maintain co-located office, as the can
one that the actions. from health they've off decisive. as this the been is They've the you've but about you necessarily we've CDC restrictions They've as talk familiar and lessons companies. listened to, we'll and cancellation X, I been of each in-person through early been China. go patterned are won't with early with of a with that as we I other list these, were and Slide and On we would meetings. travel were of learned to on probably And just safety early point well WHO
two And I will highlight examples.
First, ConExpo. ConExpo, one companies a first which We're very show. of to is probably the withdraw from important
to very that as of, was successful. virtual to the a and think, people. person, protecting part then our people, it message, as successful. So do importance good Investor what And an it you were our our we thought as I to sends as but was adopter strong very early well And were of space smart a we in we Day, wanted everybody that in do of that. Not very move of the all which was here,
work on do and to going of We So takeaway. possible at to happened. we're the this people page, and the make the it takeaway this at wanted be message home, everything to to sure safest governing been all has places for people our that humanly our two
So I mentioned essential. that we were
examples to real and on our products crisis. But entire just these society highlight Slide quickly. I X, action. of go And through just purpose And this through I'm our some wanted going have to helped
in that from or point-of-use to a farm emergency people it's if we food helping manufacturers. look And So the other a helicopter manufacturer also we whether are products all beds. way you central at hospital supply, retail, helping but the we're are on patients, central on transportation have the
you, I plant in is that you manufacturing in products. off would make people the are world, there, around right-hand a of see upper That typical plant little helping picture tell every it. their roof corner picture with manufacturing the we a the almost of And
use seen the put help are in lower right, being So those to control eight to society. motion technologies,
the would in example a poster XXXX, it's year – in I crisis ventilator. more technologies And heavy-duty power And of the the on fair for And traditional freight if generation on well existing as electricity. a products think child amount and we page this six get truck I the around you the to doubled the best new to whether next to go the we but Slide X, or been transportation, examples, We as world. We're have ventilator calendar eight renewables. air couple customers, really particular, from do in countries and as this customers on health care of our we've well ventilator. our have almost as is supporting sales and
job a a all And just doing job just of the divisions herculean have It's to have up customers. this with that my been and compliments fantastic them. done staying
slide and September, breakthroughs So positive next never the our And tomorrow. people. can really to for you, on engineering a our purpose we enabling they lead statement, we had it I probably is do, I it's purpose how of our becoming – impact that in day on through what it's tell day We better is slide what an this a illuminates, out. envisioned organization this for last to a crisis, think the in people deal society and and our on released meaning and bring rallying cry great gives
total Moving at And regions of that and the the to quick snapshot a just status. XX, Slide and major facility you column, to supply Parker. middle go chain
normal up capacity percent quite moved at an things and on as Using stay-at-home orders this through So to bit. we're versus quarter XXX%, back that of virtually example, in is all lot obviously that, us pre-virus a April, the went that a and XX%, as but there's with pre-virus.
done side on effective very Our the supply the right-hand chain and crisis. strategy has great during
risk talk heard strategy robust got me years, sell this that very but and the the past a may before region. started. mitigation this You've also about chain supply region the we buy been in for for we've doing in We've well
very shape a is in on This we're nonissue for us. good that. So
had performance just in by I of XX% safety, it's to reduction the we're when reportable I quarters probably yields, with at Moving team. to remarkable – that is the one instance want tell you ever given incident a in. that's was about we It so and environment to I safety the hundred just number that quarter that of per XX. the would incidents I if company, we've you would progress. done, talk people, we're quartile Starting which rates, top had fantastic the summarize, and look recordable a best really
the had But stellar. Sales out. decline and stood organic were were flat They we really year-over-year. Acquisitions currency. offset in really margins the
to XX.X% for at we So acquisitions, I call attention versus and your in operating would quarter without segment adjusted growth came in categories the here, same two the FY got quarter. we see, the XX.X% you and XXXX,
point basis improvement, a decremental XX a on So X.X% is remember, decline. this organic about XX% and
you pull off. it that So by when look then to acquisitions, And to the make at just it's put EBITDA apples-to-apples. easier teams fantastic to progress
is this XX acquired speaks base performing If expansion. you better business companies the fuel period at can EBITDA two you to EBITDA that have improvement one, Parker, basis, versus things: XX.X%, on and prior row, margin we adjusted XX. that keeps look see is that in accretive getting page came an the Slide which that a quarter One margins on basis helping point for the more highlights at and on so margin and the better, legacy to last
very saw, Our record EPS had was strong, exceeded performance, as We a QX you casual. expectations. year-to-date
$X.X cash flow a which CFOA history the was meaning the XX.X% record free company The XXX%. of great. conversion was records, margin of billion, in was So the and rate
a X.X when look That our reduction very We you a X.X debt to gross are reduce from nice at helped our debt reduction. very pleased of was EBITDA. million. that $XXX from it with And leverage to
So slides these strong. we two you see and how performed quarter went, extremely can from the
strong into in So we're very pandemic financial a this going position.
up allow section, about me XX, And So but Cathy's rates. traditionally we in to order the on it to to this earlier had talk I wanted Slide April. pull was
year-over-year a year-over-year currency. orders month comparison reminder, XX-month are excludes a industrial year-over-year, this and and is on acquisitions three XX aerospace rolling Just month a page, and
illustrative go felt But here bit I a little Slide probably a But want that I international, while you what little see talk drop got month. emphasize happened driven next so but the March in to – about a we middle in little in of just the by where better, the if primarily we and you April more particular. was better, think there XX, it's that a distinct it to QX can
think a on feeling three clearly the rate we much had this cameras we you the around pandemic basis, got on IR and And daily China around stay-at-home and prior orders were the basis, in soon us. slide had When started already XX is that remember So so up March daily The every and rolling. stop that. impacting March rolling, I March look as the was day was the you XX. started to that at world. just declared country already as pretty months
why a those of the month-to-date month-to-date, referred April April orders very Again, we stay-at-home looking and our XXX, have that's But this month so this well. influenced plant I the orders excludes shutdowns versus and through were what so by April, weeks here. orders not hence currency. matter on prior is that XXX, in hasn't a that sign. extensive acquisitions a clearly two for customer is And started of ranges And you're that The as page month period. closed, at is to that last stabilized positive March, here note so good have one the happened it and
on hockey of in We actions XX, So give middle felt was analogy we happening. the cost reduction the going. quarter a would March. that that, you saw puck these of taken the where Slide March We started are as we fourth in decisive and it in skating actions to decline and a I we've this result
the at rate started April April, were X. we so of effective beginning these And
are these in Now distinct really buckets. two actions
discretionary, vary have. we flex will order to based orders amount it and entry business will and which on first of The that is the
first the category. that's So
too. SG&A aerospace that is The end structural and for predominantly the that focusing company, are gas low particular, that on second longer, across structural oil be need actions, but cost that and permanent will in are markets actions and
time So a here. let me just take one at
So discretionary see reductions salary-based side, and we you on here. wage the have various elements can the
All world members salary XX% of directors our the team base and our reduction. around salary took a
myself XX% at in and are the XX%. officers – XX% to range offers Our
when we it's is need days, effective is whether will extend on this we'll it doing XX April progressing. order that we be X and to valuation get for and to the business QX, and how and Now effective how dependent evaluate is entry
It work reduced a is could as there councils, we're much a take to to use in And very to a collaboration depends the anywhere et of with we down work hours we've matching the adjust go plant to range XX% this work cetera, XXX%. weeks had could week, of entry entry. colleagues, world schedule to at activity works that from order a plant, very down our see you business terrific, and effective from really, for category time. that and all around one order terrific day next tool several could And schedules. it on, reduced a The
We're not travel reducing foregoing not that's annual we're spending. we're everything merit moving, increases basically and and producing
XX% all to to those on So reduction the $XX are for are that $XXX million. of going comes $XXX force million highlight approximate the the $XXX that if $XXX in in up, – that aerospace force. you reductions reduction And an then that, million yields to cost QX. I add referred aerospace, up to million we in million a Add reduction the group. quarter. was $XX that million And do related that SG&A to that's people a have as I structural in side, to we number to cost And in
margin. decremental XX% approximate an targeting we're So
horizontal kind to But U, in is absolutely type is very into L. V because the discretionary, notice a and to variation a respond going side is bottom cost LD, could a known a to we of have here, notice we some at an the with to where that growth L not going that L discretionary the planning done any point. the for this we've the that at But have variation we're modified very have conservatively flexibility, of cash our planning turn is an flexible. the moment's and on We're way side you side recovery or distinctly of L for
which side, traditional a we're spending, you If on capital, strength you company. working we're optimizing go capital to the for imagine, is XX might the conserving cash as
legacy maintain payout We're and You go will well of paid. a our we've in. past annual always XXbX-X that increasing done the all the the of this is share repurchase recessions, suspending extremely dividends and through record temporarily dividend we program,
of FY our It's footnote, it's and that's dividends a FY a XXXX and annual a was confident. in was record going paid to $X.XX. $X.XX as proud Just We're record XXXX we're continue.
cost at cash than side greater actions You generating into XX% the future. side on these the all a look and CFOA going and the
Investor opening today, So the while I the years Strategy with want it almost Strategy, Strategy out with transformation starts this so this engine through X.X, that the did that is a powerful last highlight it Strategy ago, success. is section my X.X of to very won't just we the And close us, was I it's to create our the Win going back original behind for of XX month. in but future And Day, to Win go company. Win the Win XXXX as
because unmatched unmatched our technologies, of buy the this today technologies more a of XX, that in advantage, is portfolio that Slide from very fact breadth much or XX% us that On four is recognition revenue needed of And is a even the our it's is also gives society. that that from customers clear competitive but eight and portfolio it's these more way. customers comes same feel a
list even adding deals, the to times, This trying than lines, have three engineered three aerospace. and have in of nicely Parker, And the materials we've strategic in portfolio. accretive. margins transformational far see we Slide these more upgrading these filtration, a is power legacy been top XX, of and been the EBITDA On all very their resilient been acquisitions,
reported, margin. get operating go is, for that stair original launched, before. that the is margin years the you And this ready Slide and Win adjusted we is here from and steps, and we've the the five the showed recessions speak in orange If as how manufacturing at we over we've to recession, we've current Investor many two is stair steps these really this is got remarkable black chart recessions think Day, and last done operating XX, was when where many five your the you progress done improvement and to were I recessions Strategy this
the on performing we're now So structure the why been five been the the we've years reason this as are changing working cost is and for well we for as XX. last last we've
minus adjusted Our together, margin year-to-date, a I environment. environment. in would I X% tough remind add operating that about was currency XX.X% organic a QX already year-to-date it's you and at if
levels from was are basis remarkably Win we in almost That's The when environment. tough Strategy at performing XXX So improvement point a launched. an high first
QX going pressure year significantly end better the to is will number recession. been downward we've on still but put Now that prior obviously, in we than any
conversion. Good before I flow, going hopefully the been cash look it cycles. times, your over many XX, cash extremely see again. resiliency generates graph at for line. do the line, the bad it the speaks times as or company. free On this you CFOA just and flow company I and can blue we're call would flow to we've CFOA the resilient and greater XX% which of attention is This margin and greater XXX% did to We to cash And
FY FY guidance. has we've been years. really as the for understand XXXX. the Then is to in cost it withdrawing we're and why highly proof uncertain, of The as with all difficult the transformed accuracy performing is I you. outlook as on think, It's those I any us portfolio been or The hence showed well current XX, five environment have we XXXX very been. certainly and just you, kind structure the of guide for reliability, appreciate, making slides last over can And
the We Win have out we Strategy resilient. through get going will And we this and have as I our this us propel current are flow rapidly The environment. crisis come as and propel purpose our through assertively cash X.X spoke bright soon And to very us well. very adjust is just to and a as to cost future. as to, crisis
quarter. back on it Cathy hand to the for So with that, to I'm going details
