Altra. execution our team and I will also begin new good joining thanking us colleagues from and their everyone. Louis, for our welcoming by strong Thanks, morning, global by
on company to excited and take plan to are We have where you about Board the we together.
first our discuss results, quarter a like few into I’d administrative to getting Before items.
closed XXth, transaction a new the Altra as transaction. segment with First, closing concurrent on when we we the March we announced, structure implemented
How slide our segments pro reference, sales our right-hand our old provided for structure segment is businesses legacy this Regal segment the presentation, forma percentage they listed XXXX with in appendix the XXXX new new to are For quarter left. structure. financials this earnings map of this by new Rexnord we the of of side on our In these we under segments for green, along that from detailed slide, represent. call on the
first this that estimate the while new reporting we quarter of Altra per shift our performance structure, roughly we the included of these reported only our like our be will in of second is results acquisition results impact days performance. that quarter also period’s you that to and I of closed this quarter for results. segment Rexnord first last impact of would week Altra’s considered legacy the few QX second We Those under quarter results. our to are are to earnings with adjusted business. Because immaterial share be Regal remind in $X.XX our be the will QX
Automation to and and from up reflects prior markets. food Now quarter results result with organic our discussing by were let’s first quarter first center, segment. and year. sales Starting Control Motion or beverage data in the The XX.X% AMC, the growth in proceed aerospace
quarter margin prior versus was mix factoring for year, AMC price, up points EBITDA XXX volume. in benefits and the XX%, Adjusted the basis from
the Altra X% neutral Book-to-bill basis. X.X X.X. inclusive in Orders quarter daily business. down roughly the FX at of a tracked quarter the were book-to-bill In April, in on AMC was for
business, to AMC long-cycle of is tend a Our be business and patterns lumpy. therefore, a order bit more do
roughly year-over-year at fact, end April. is comparable backlog overall AMC In X% of for up the
quarter offset Organic energy markets by and up Turning and strong project sales weaker end IPS, energy the Powertrain metals first or to were quarter Industrial the in markets. prior mining reflects demand performance in alternative and forestry largely in and in from Solutions Growth year. the global timing in X.X% agriculture
XXX up and XX.X% adjusted points prior costs. The was from basis the in for EBITDA merger first quarter benefited lower synergies Margin from margin freight the IPS year.
for Segment a orders business. largely X% industrial the basis, the inclusive Book-to-bill X.X. markets. first pressure was the X.X, of daily down FX-neutral book-to-bill were tracked in In also April, quarter in on at quarter short-cycle Altra to tied
commercial in general Solutions to were quarter general North PES. we the earnings North our first America expectations channel America shorter-cycle the in by markets call. prior outlined line pool or and was particularly from is anticipated and XX.X% and fully activity, This and activity Turning in quarter The with Organic Power destock industrial China. the sales driven largely fourth residential in decline was in Efficiency significant HVAC that the year. destocking down pump,
on in destocking quarter. par in Note back the that from this we in headwinds quarter. the with pressure the roughly moderating what see in second first the we especially half, expect fourth But quarter, saw further
XX.X%. provided adjusted guidance was aligns PES EBITDA in quarter performance quarter the closely to on This for as earnings margin and call. the expected our was fourth The
a in in roll to annual favorable the the performance the saw year that As addition year-over-year reflects lower reminder, this impact unfavorable this volumes, a when we impact prior to impact largely last margin of year, year. comparing an and cost
a this adjusted look we ahead a mid-teens segment’s EBITDA margin significant sequential in to improvement quarter, to As level. second we anticipate
FX-neutral daily for quarter tracked orders. Orders were at April in also in Book-to-bill basis. XX% on down to first PES the quarter Shifting was in X.X. Book-to-bill a the X.X.
slide, On following the highlight some additional we updates. financial
a of side net this close. X.XX at generation with strong impacts net adjusted from right quarter. This quarter ratio EBITDA you Altra flow we of financing in line the the will On page, which we net is target debt with reflects metric see of our free in times, first to that cash the ended leverage the announced
$XXX.X Free quarter cash very in strong, flow in the was coming million. at
capital in performance quarter, As in part and to owing improving Louis free did a job the significant mentioned, progress the great working improving cash inventories. particular, team flow in lowering
continue lowering augment by to to see opportunities inventory. flow We cash XXXX significant our in
flow our will of As debt. stated, down weighted to paying use previously remain heavily we cash
On Moving our end market are each updating are this Regal to to Altra. XXXX market include average Note that end outlook. growth the our we slide, weighted Rexnord unchanged. for expectation legacy outlook
For our Altra. adding end in representing added exposure with a market the Broadly speaking, column reference, our center markets we how secular changed has table, have portfolio now this by end tailwinds. of to growth exposures greater
you side, Altra rate estimated two X%. This for by that on captured XXXX weighted the benefit points see market XX right-hand last XXXX. add end can in specifically, our accretion in our exposures is to growth Regarding market estimates to by in columns rises XXXX basis Altra, adjusting for down the average our end
Altra. include On this are updating slide, we financial guidance to our
our starting and business, which legacy revenue, in you is changing. this share outlook present not earnings As Rexnord see adjusted for for per we on our the EBITDA left, adjusted Regal can table,
next our ownership of Altra of March and XXXX. EPS adjusted columns, Altra define EBITDA closing from two Note of transaction only how impact the in the XXth. impacts adjusted will In expectations our we reflect that our date revenue, these adding
in last adjusted legacy range billion to of at arrive outlooks $X.X earnings revenue $X.X the a in to two Regal Altra a a adjusted of The $XX.XX. per our which billion, calls $X.X current to $X.X plus simply EBITDA in and approximately had billion guidance, to range share for billion range $XX.XX of columns for
below table modeling the the of items. bottom the various At are line
Rexnord. to to is will that at factor $X.XX XXXX add versus flat XXX per sales our levels above our legacy to earnings expectations our adjusted $X.XX Altra Regal being and assumption basis share slightly up reference, or points Altra For for
of factored equates We annualized million synergies to approximately cost run XXXX. $XX which exiting an have basis also rate million about $XX on
conversion bottom the this expecting flow you Finally, slide, XXX%. at of we at can see this year free are of as of cash least
least flow. Our in expectation dollar in terms $XXX cash million generate is at free to
Lastly, in second specific our quarter but to near-term structure, it Altra not segment approach light easier for make by simultaneously more we we to understand this that provide and our of did a for at planning it community transaction felt revising business. to for expectations the our decided financial to the closing performance are this adopt Note the basis investment the expectations make time. on go-forward segment sense
expectations include revenue presented In margin revised provide expectations the our lean this adjusted structure. our for ongoing segments we EBITDA and significant with from M&A of synergies, on each improvement table The XX/XX segment and performance our under slide, outlined quarter second adjusted PMC and and sequential initiatives. EBITDA Altra benefits margin along for factor a in
outlook. Altra caution our summary, for our legacy to on we and are In business business to forecast as we the continuing side of market-related performance add the we as air
within However, other we do control. have are with that to our sight initiatives line cost well synergies, of significant along savings cost
now end resiliency. markets has We our secular our portfolio gain growth also tailwinds, strengthens I as initiatives, exposure growth greater with on earlier, continue mentioned further our which to and traction to
with we the pleased are QX a the front very us, cash macro self-help and growth, on have ended the we whole, QX, margin tremendous for in we of of our way bit the and So enter the positive, flow. amount remains outlook uncertain company we remains outlook while on considering as very
the to can Operator questions. would that, call take Operator? with so I to the back like turn And we
