Thanks, industrial customers day quarter, the We've expect consistent initial level & segment, with rates this In price order remain to strong in near fourth behavior. Metering returning a signs Fluid were our Technology pre-pandemic pattern, in the with Eric. term at they we steady book-and-bill seen and that support. are
most expectations as to continue market to We day rates our short-cycle exposure. this monitor longer-term evaluate is
We strong farmer sentiment with business and crop another year strong expect in high agricultural prices.
trend input continue costs. of a towards our distributors OEMs investing to signals technologies and see both a precision from in and as means We positive higher mitigating
are our efficiencies and see and capture good of a delivery continued improvement share. automation process phase putting in next on to We at in position us Banjo
opportunities European new year. Our capture is municipal capacity. half experienced continue green water overall tailwind strong to project energy to this due and but provide in the EPA of our just the the to outlook energies favorable. we is the could in business to are few record and The quarters for soft. higher Middle U.S. expected and markets a received East, healthy continues to growth for technology production our into We past leverage programs. identify activity Bill chemical costs offset cuts The be by the demand to back funding over XXXX see growth. activity we quoting to opportunities The softer And Infrastructure in translate
we continued natural see as energy gas energy as for production demand business, exports well favorable price and support. oil our In
The capture as continue of offset will well to customers as achieved as actions chain with margins productivity price inventory risk volume some larger the XXXX second depending lost volumes. cost, in in pricing in FMT However, leverage, drive improvements on 'XX new delay continue they to investments half from and on issues. focus supply and strong
the Moving & to Science segment. on Health Technology
HST to highest our growth We expect segment. remain
cell-based spec therapies and due in of mass sciences expansion will to various continue to strong in chromatography and life instrumentation businesses applications and sequencing grow continued Our next-gen analytical 'XX applications.
inventory, issue, and positive OEM excess of the first our holding this however, of and out the sector. overall short-term short a market the believe several driving the We the remains In for outlook extremely quarter year. is into volume balance term, customers this are of
growth initiatives industrial and applications are perform a to fuel wide our to space, continue targeted from well, energy-efficient and tied variety market to trends satellites Our seeing cells businesses to of FMTs. similar
end be more new the cycles. We in are continued expected driven expected for seeing a components our higher for slowing by declining base, and device share construction both despite consumable semiconductor market levels market, stable year. Fabrication Where critical some customer That gains and broader are drive CapEx which versus we are spending tends the recent to fab play be spending. said, in to inventory the outperformance chip to provide and large down market memory installed market. we and
higher We investments of to signs and given the hesitant and seeing some. restrictions inflation continues are and make drive in offset region rates. are China to demand pharma slowing to could and overall Customers of in accelerate the recovery larger projects. India particularly biopharma, larger interest growth around easing
is is Lastly, auto as in overall our segments to vehicle recovery business well. and and production perform market. EV to in premium Global compared the a hybrids faster driving stable, is presence our expected auto
demand term expand by science businesses reinvestment volume, will mix to patterns. in partially highest AI continued growth our margins in the due 'XX offset some expected to headwinds HST productivity life pricing, short and due and in
and we segment strong our but experience lower U.S. fire issues, fire end towards and our by guided volumes Safety throughput steady. remain constrained In OEM Diversified Finally, will and are Products backlogs range. and growth safety, expect European the Fire chain volumes of supply are
surplus We builders demand. expect gain capture that smaller to continued share coming online with are
remains business positive and we integrated to drive model leverage continue growth. to rescue strong Our our NPD, with distribution
as its energy and to inventory Banjo We automotive to leverages capture our across business industrial, it to expect outperform share. continue differentiation and markets
business XXXX, American but be strong last has refresh results for dispensing volume project our innings. equipment customer X North the cycles driven approach Finally, as final in by achieved down their will years, lower
We in Asia. demand moderating offset to some see Europe continue Southeast growth India, and in by
some volume we segment. lower I'll in expansion operational for price financial and our that, mix the the drive as With productivity cost expect margin will see For project dispensing results. segment, we with discuss offset
QX organically. and and X% dispensing well Moving to FMT, rescue and a on orders orders growth water in orders consolidated receipt $XXX results were quarter. fire on to due as X% continued for strong as an Slide overall FSD energy results order of X. experienced up by of our We and up in driven the financial project the million, strong large
and X%, to orders life softer semi mainly AI HST were highlighted orders OEM I demand earlier. down science and the due
growth in up sales We both the For Fourth positive orders experienced and up up growth FMT and XX% experienced strong across segments. and up of and overall overall X% X% of X organically. were organically. $XXX million, organic were our XX% growth nearly We XX% quarter all across year, HST orders FSD.
double-digit $X.X of across FMT and points were to QX billion, by up quarter HST margin offset and unfavorable FSD, XX% was driven mix saw points. XX% unfavorable sales HST, leverage basis FSD. fourth HST up strong XXXX and basis organically. by in of contracted compared strong XXX overall productivity and growth and year in employee-related of volume and growth XX.X% by Full impact of XX the cost. This margin adjusted X% partially contracted dilutive gross and within by the acquisitions, price inflation We
volume and adjusted points by expanded primarily to basis and expanded year, For by points, strong and inflation XX%, margins XX.X%, basis margin than well appendix adjusted more presentation. leverage, A positive productivity, quarter price/cost of adjusted offsetting investments. points full adjusted EBITDA can in the driven gross by resource XX basis gross was QX found XX XX QX margins the as bridge be engineering EBITDA income up Fourth of operating as XXXX. employee-related versus this
Full of I versus of next adjusted slide. up EBITDA EBITDA full discuss for IDEX. is the will on XXXX's drivers EBITDA XX represents the year This basis of margin points XX.X%, XX.X%. year record profitability adjusted adjusted
recognize of versus acquisition. primarily to tax tax Our realized benefits certain rate of tax purposes effective QX the Group of rate effective for due we last currency the XX.X%, XX.X%, with Muon tax as impacts year's funding foreign decreased
of also Knight business effective from the and of effective from XXXX full was rate year Our sale tax rate tax benefits XX.X% of tax included our down XX.X%. the
Fourth income EPS EPS an in year. $XXX year million, $X.XX, was EPS. million, income Full in which resulted up of $XXX income resulting or $X.XX, of $X.XX. resulted XX% an prior an which XX% million, adjusted over was net of $XXX adjusted with $X.XX year EPS $XXX $X.XX million, or which of net was quarter EPS $X.XX income net over was was in up Adjusted an prior net Adjusted
XX% free by flow improved cash adjusted income, working of $XXX million, performance. net capital for quarter Finally, was mainly the driven
income. down was working For last X% income. of by adjusted XX% at cash in mainly capital, versus year, coming higher flow the partly $XXX offset and free higher net net by million, year driven
progress made to next inventories and we year, us drive reduction behind the further momentum in reducing to exit continue core we As business have into year.
XXXX Moving on EBITDA on Full and drivers Slide EBITDA. volume adjusted million year We million the to gross XX% Our offset $XX had at our XX, well increased year our levered organic record rate. price $XXX contributed details of growth record inflation. through prior flowing compared which and capture approximately to total margin increase adjusted year the to
to was margins and to accretive returned Price/cost has historic levels.
favorability. all of the drove positive year, was unfavorable productivity realized $X Italian the million year-to-date our We fourth a price/cost inefficiencies segments reversed and of we that for saw X operational were Mix pressure the As about chain-driven in results. of consolidations. a supply We benefits to posted of majority and our quarter year. energy site the small offset the positive exited mix
on million form Tracking full year to in to the engineering highlighted year, and the we of the $X.XX by $X.XX resources invested M&A the diversity Discretionary versus beginning than the and commercial spend to lower closer $X.XX the significantly We business resources to sales taking high at original end million $X.XX end guide. in our inclusion range equity of spending the higher last increased corporate. in the year. of $XX $XX and of of
first EBITDA. Inclusive Muon With KZValve We and and Knight exited an net of the flow-through. year and of divestiture million an flow-through. that, the full to of outlook our additional XX% provide I the Nexsight, delivered contributed acquisitions, $XX ABEL, year FX divestitures like XX% acquisitions, we on and also update adjusted FX, with XXXX. for quarter organic would a solid
I'm on Slide XX.
FSD. from to This to the $X.XX of HST We the of equates range X%. half second to full be organic anticipate dispensing the which business. in the in and organic growth This line $X.XX top year stemming rate will range given short-cycle uncertainty the positive the of year and some X% year expect in volume growth range results. nature for This to price our reflects depending we pressure be includes the on mix cost, revenue
offset our inflation. more operational will benefits productivity wage employee-related and than that expect pressure from We
supply chain own easing of of funnel in XXXX, operated deliver we to for more as as rebound in and $X.XX year. a well increasing a to sustainable of driving And invested our to in we we these We returned the until challenging XXXX, and the we level quarter expect fully of environment people as $X.XX the rate net discretionary productivity productivity external XXXX. conditions strategy. hired will spending Travel internal drive through year. the post-pandemic our not services second an did and the move needed In
see impact approximately on our rate, spend is exit Although moderately year-over-year first of felt increased the XXXX. only pressure of we'll entirely in versus is our This basis. XQ $X.XX a quarter
for future. XXXX, will as for provide products, existing up new level same pressure and People, continue in these applications invest the to of as depending line well to the XXXX, on to investments results. top not in $X.XX will Although as products we
we The we acquisitions focus an on and last of Knight the of range million EPS. $XXX resource divestiture allocation indicates year, contribute business to expect our will $X.XX and uncertain of and revenue of appropriately. in investments how our Net dial period
expense let's to and a $X.XX, impact, associated couple look at expect Interest of of we Now $X.XX a FX a represents the acquisition be items. of Muon non-operational headwind pressure. EPS providing with small
X% summary, in XXXX. a adjusted of growth X% revenue of the are to to The EBITDA our we to year, X% So over range implies organic XX% in midpoint projecting $X.XX, EPS solid growth expectations X% $X.XX guidance of adjusted are flow-through. the a for
approximately $X.XX, quarter In to $X.XX from now adjusted and margins the full range revenue $X.XX XXXX Moving EBITDA are EPS We I'll XX. from quarter, to of first $X.XX on and of projecting regarding guidance range to first details additional organic Slide to provide X% with adjusted some GAAP to both EPS year. we our X% for to and the XX%.
pressure Our accelerated that the organic lowering as $X.XX in to latter of a growth the expectations of guidance HST as includes for delay compensation shipments share-based is quarter second of recognition from part OEM our well quarter. the
the plus year-over-year I previous solid expect on slide, deliver flow-through the our but mutes for the item factors, to carryover flow-through mentioned These year. quarter, for the
and $X.XX adjusted We $X.XX. to Turning EPS the GAAP XXXX. year to full to project range from EPS $X.XX of to $X.XX
margins X% XX% X% organic be full or to higher. revenue expect We year growth of EBITDA and adjusted to
be in Capital continue to $XX core identify income. about of expenditures anticipated to in net million, is spending percent flow with cash be line XXXX our And are as to we opportunities expected XXX-plus reinvest free to adjusted businesses.
that, Eric. to it back turn With I'll
