for Thanks, Louis, morning, execute also team my a send to with thanks everyone. global very to what environment. challenging our continuing discipline remains in I’d and good to like
segment with our the organic particular X.X% markets prior and industrial MCS, but were to or turn growth, let’s and the partially project by metals segment, Solutions broad-based offset prior Control and strength year. in Starting financial mining now The up sales end Motion second quarter alternative large the activity reflect quarter our in results performance. general So in with marine second lapping energy. year from
year XX.X%, for down As that line, a cost Adjusted in XX deliver, compared prior volumes. to and by supply tailwinds FX disruptions largely recent mix and EBITDA freight corporate to the factoring posing quarter quarters, updated higher MCS the synergies, allocations, segments. points restructuring higher to favorable to a was top all basis related commodity price to continued headwinds inflation, impact in headwind realization, of backlog in and to increased our our chain costs, ability offset actions the resulting dynamic impact margin continues
margin, posted segment trend accruing were XXXX, the the in large see quarters by of for approximately in and remaining As a down synergies. MCS driven in nice of continuing part we the sequential improvement quarter X%. each in expected, this Orders
slightly above book-to-bill X.X. was However, second in the quarter
sales offset markets price the positive and from Climate share Organic down in general inflation, this to second the by realization increase freight was realization. frictions commodity industrial quarter higher partially by and adjusted America strong quarter. XXX was XX.X% prior year. prior impacting margin the mix, chain-related America in North year North were continued points residential and Turning Climate the Factors driven gains in Solutions. The up supply The strength weaker costs, quarter HVAC margin by basis the by for EBITDA in price include period. XX.X%, versus
overserve certain As Climate to component costs. which earlier, in higher Louis customers, some decisions mentioned segment the made freight high-value resulted proactive intentional, and
to fire the of disrupted electronic was that at components Finally, while there a access quarter in components. impact one the material second that during suppliers occurred key a not of our our further quarter,
see While some while the temporary. the high will fully as we moderate supply, this X% for through segment Orders to we to And expect to All pressure the we the Climate normal segment teens results this basis. low as we this impact continuation approximately alternative have still we the third the most do into found for daily see were margin quarter. a a return margins transition have in quarter, to that quarter quarter. of second of said, third expect or to down Climate XXs more in fourth this on
However, X.X. book-to-bill was in the second quarter
Systems. year. in pool Commercial Organic second prior Growth strong in reflects large in North XX.X% America pump and from quarter – prior general quarter were to HVAC. Turning performance up the industrial quarter sales the commercial the
Our the chain for disruptions. digital margin freight quarter second inflation, XX year, was were and in Commercial to other the investments. mix to tied by down costs also Commercial basis continues the non-material Segment supply gains points associated to X%. quarter orders. business for and reflecting compared favorable offset orders meaningful with Shifting its price share second product The realization prior commodity, partially EBITDA achieve XX.X%, adjusted Systems to up
However, in outgrowth EBITDA Systems, X.X. margin for XX.X%, were the X.X% second second increase America’s was quarter of XXX The the basis general the prior in markets. prior the include In sales in versus period. points industrial in an drivers up organic book-to-bill year to was Industrial close quarter strength quarter year. and versus adjusted the Principal Industrial
We after a feel improved this significantly path And a performance. the pleased two stronger of are at turned to with quarters has performance, corner business on Industrial. is and sustainable extremely performance
we believe said, benefits consistent adjusted in to roll, expect lean some making second in continued aside, adherence a to operational lesser also business cost further XXXX to quarter Louis tools the EBITDA a up our quarter principles does do benefits performance book-to-bill to temporary As teens to the of business to the and is the approximately That we XX% underlying are and positive performance Orders quarter with extent, then those persistent levels relate quarter annual deployment XX-XX are the X.X%. meaningful momentum. gain a this These was the impact. associated low team’s the we the with and improvements upside mentioned, of had third continue the have fourth to of business quarter. in for margin, likely Industrial their which and and in were benefit
the notable On some we highlights. A financial for couple of key slide, metrics following highlight your review.
X.X quarter debt-to-EBITDA net forma page, we First, pro ended you’ll times right times on side on X.X this or the basis. of a see the a with ratio of
Second, our roughly flow was quarter in which to free cash the $XX.X XX%. million, equates of a conversion rate
levels the the to serve While historical over tracking year for conversion expect are close both of flow half and investments we we a we to cash we challenges behind continue to supply of our intentional chain out some XXX% first cash made better the bit year. conversion the as free due customers,
We in improvement and expect reductions this much come through fourth quarters. of to inventory the third
roughly first have $XXX half of on million to million share purchases year. spend total now spent share purchasing authorization. our bringing through $XXX our on million And remaining $XX purchase we this the in Finally, our second on quarter, shares the
Moving outlook. to the
raising our range modestly expectation range per share stock to primarily higher activity. reflects impact from our second performance, of are of $XX.XX with our a earnings $XX.XX along the to We The adjusted of $XX.XX. purchase to quarter strong our prior $XX.XX for range
do our assuming execute macro our bit environment. up strong to was change Despite breadth results midpoint we materially the reflect expect other the tailwinds from QX by seeing conditions a to a in with high that our of to revised underlying organic call wrap from factors. prudent prior very rising the and to what high, would our to remains addition, in we guidance ability the for half the an synergies, To are challenging range. in the we In this mid risk. be But whole, business clear, global high. are guidance this back pleased confidence, we’re and are today, above raising to operational owing not extremely we range we I’ll of felt the of digit growth to the revenue seeing outlook team’s sizable saying on single it from expectation execution our range the in confidence come team’s among maintain
now all considering And are operator, certain, are to with macro outlook we while questions. has the And positive, less front certainly of We self-help remains of ready flow the our with we margin tremendous ASPU. meeting of become in the front. take cash our and very expectations on us MCS outlook amount that, and growth, have
