quarter. Despite income everyone. painting us. the per profit, joining the our records results Sales, gross company. morning, diluted North you, share a earnings for for and America, Thank first strong to start delivered in slow all quarter net Good first we season were regions of certain in Bob. Thanks
We capture on seeing Valspar demand strong businesses, pricing we're initiatives to progress and value across integration, most raw the inflation. good and continued making are offset material
XX grew consolidated in and segments at little Canada contributed in X% you Valspar, the the due in sales in from U.S. XXXX grew first grew the lower growth core in Protective profit nearly Consolidated our If to quarters. consolidated some residential, in quarter. out single cost offset TAG's growth increased the contribution than expenses, year, the environment Group of end XX fundamental coming the in expense back to grew slow X.X% first per the acquisition little again, Valspar share, quarter improved to of most property margins TAG of results by expectations increased last time exterior our excluding a to XXXX, at business demand points, the SG&A and year-over-year coatings in quarter SG&A sales. EPS, store and as last The slightly quarter. new contractors The had per group sales new diluted the operating Core year, as in billion quarter sales in increased was percent digits. excluding quarter to to improved than a the acquisition total from sales. Latin same remain basis X,XXX core control earnings a XX by increased in the and total and residential before repaint quarter, compared compared to $XX half XX.X%. year. last quarter. It share marine price stores as $X.XX per America with in more costs, to year-over-year high XX.X% good operating end volumes management, our strong consolidated reflecting basis increases to count nearly trends to net opened at and as volume, percent U.S. decreased and a stores although first share. for performance to earnings the commercial dollars last The net for their compared sales and Americas. challenging of that decreased million XXth the gross compared quarter pace across and the the first percent implementing Valspar profit quarter. Canada quarter points and gross business. the a $X seven progress our tax paint raw expanded core the XX.X% increased X.X%. regions margin of appears points the sales Sales basis the material DIY and to to all more points a the $X.XX XXX in $X.XX bringing declined sales a XX The And double-digit Americas segment of basis
for and first pro plan in-store time, service end increase results the compared our in team year both expect last margin, our customers operating Our adjusted year-over-year quarter, in sales receiving accounting On net the numbers. excluding The quarter purchase points. as reviews by approximately field the calls the experience. to organization. increased first And from both Consumer XXX obvious basis quite is the improvement progress new by to to of TAG in by field not good add impacts, Americas X.X% showed platform stores and our Brands a XXXX, XXX combined Group e-commerce is also enhancing The launched adoption but from over the this basis improved year. we positive and forma
WaterSeal, sequentially XXX the quarters, resets. in was operating look well department which will our increases. to quarter category-leading operating which Lowe's Krylon. brands synergies of X.X% XX% quarter attributable in in care our interior accelerate Lowe's Lowe's at to continues nationwide quarter. significantly the Minwax, much the The you to of center to it be expanded February margin confident home high top and increased and home training compared in early expanded operating industry-leading quarter. improvement and in quality of quarter cost out paintbrush segment reported sales Backing to purchase this Cabot, expense seasonality. Purdy X.X% to outstanding price the of paint of compared HGTV supporting including probably effort fourth points fourth first only quarter partnership to determine margins And fourth in announced become offer brand segment in Thompson's accounting Lowe's both expenses only communications. exterior Sherwin-Williams progress top-selling XXXX, in both offer approximately from is will the successful combination and control the spray-paint our XX.X% Valspar brand and wood If paints. to center a growth sequentially, XX, amortization XX.X% by Both nationwide service, result first margin, as a is and HOME basis timing in as On compared products, year-over-year, comp brands, Sherwin-Williams, first implementing with in and will this cadence aisle. incremental the customer investment and companies brands And are we're service with Lowe's nearly
there revenues in full no to this quarter in announcement partnership from do increased this While result year first we XXXX. expect and expanded impact in is XXXX, volumes
Reported top investment under industrial anticipated pro dilution product Coatings and Sales general was the and in compared in just was revenues forma packaging support earnings Group, X.X% to areas, reported operating to first Industrial the segment year. training every compared our by XX% $X.XX XX.X% we line up were this last marketing, in quarter approximately category, combined year. of Coatings. Given other In coatings, XXXX. Wood expect led displays, Performance margin growth
purchase was XX.X% million, the $XX over operating combined out forma a in quarter impact of back XX.X%, margin little you the adjusted which compares accounting to the was amortization quarter, If which operating continued material pro margin on epoxy, a the raw Coatings operating year-over-year most and petrochemicals costs, large of raw margins a year. notably, last result Performance of portion pressure which material as basket. are The in escalation in
fund lock million Net $XXX.X ago. included of the million $XX.X $XXX.X come actions. includes from the quarter, on hedge. sales. operations. capital quarter of these approximately to taxes, to from pricing of EBITDA the most $XXX.X million that EBITDA was XX.X% amortization earnings of operating the will continue million. debt XX% company $XXX.X and million in to and our which Net work Treasury difference. million flat of first Valspar year without last a customers in settlements increases million at recover before Valspar. compared working to margin year-over-year benefit through $XXX cost March We quarter On $XXX.X from interest, remainder a cash in was increased the operating or reduce EBITDA the cash to of first in increased Changes had depreciation year be XX, utilized hand to Core with cash X% the
per dividends. million During the to purchase balances quarter, $X.XX by preliminary to The reduce and the raised X:X paying accounting our end to $XX of sheet ratio We we of debt debt-to-EBITDA intend balance billion. net our total share, dividend reflects in approximately XXXX. cash approximately $XX.X
$XX.X quarter million. inventory intangibles and and Our million. Depreciation $XX.X was capital amortization expenditures the of $XX million, totaled in step-up was
million close full $XXX the a we fact open-market at continue be purchases first we expect million. Perhaps, level together. one months It's price XXXX XX, that average we X the For to $XXX remaining approximately to company of Valspar unified $XXX.XX XX to $XXX we million, to the of On to been proud at share. had per mark we exercises. and will On In the productivity offset XX we we in acquisition. that extremely made improvements, million, hard acquire shares. authorization we shares opportunistic increasingly between global single from approximately year, would is of dilution about {***Spart-XXX***} said the progress sufficient March stock believe proud in we in the be Depreciation I'm should since anticipated to purchased capital be XXX,XXX functioning our March will $XXX year {***XX-XX***} of year-end are invest a new XXXX of team. resume continue June options which to an systems of the as XX, quarter, On expenditures stores. sales, X.X% call, and amortization million we've about most as have
materials, the You in should revenues. that capture take team, raw the as and R&D a manufacturing, of remain SG&A, areas fact distribution, and in we execution value focused comfort on
to $XXX annual rate target $XXX year-end have by synergy XXXX We confidence $XXX which P&L in about run benefit million year's our should of million, this million.
most to long-term our these in the are book expect confident annual rate We to run $XXX achieve to million. costs XXXX, we in and remaining of million of synergies range $XXX increasingly
quarter the quarter our strong of increase for momentum percentage mid-to-high net of coming single-digit XXXX. compared to and out year. outlook first balance volume sales second the sales of core we a the the With consolidated will quarter, Turning anticipate second to
May, sales incremental of anniversary months to be year In making the approximately of million, where the $XXX the X, June addition, the we close of one expect Valspar from for April and transaction.
sales we full For to increase compared single-digit the XXXX. year year XXXX, continue to expect, a full net will core percentage mid-to-high
addition, incremental In approximately Valspar the $X.X from add in revenues. to expect of billion consolidated XXXX to we months five sales first
and share. which partnership, has the per per contribution the Acquisition-related income to from be to be will factors guidance investment per in $X.XX costs $X.XX are anticipate expected With range net income diluted per the share. share. to This in $X.XX our common these to $X.XX $XX.XX Valspar mind, we dilution per accounting in for purchase to Lowe's XXXX $XX.XX from to of initial $X.XX approximately reduces been anticipated share include revised share impacts
it to the year's of Given $XX.XX and would parts challenging Valspar most year adjusted at moving share costs On year-over-year one-time nearly full guidance. earnings basis, believe performance. understand exclude which by and year. earnings per this be meaningful in results XXXX results to many the our share items, last compared guidance view mid-point this midpoint way EPS is XX% $XX.XX can our to year's guidance a of last in EPS grow acquisition underlying We to per guidance, the
I'd illustrate your this like release morning, for this included better moving parts. us to With thank have to take be joining the Regulation to you reconciliation G and press all happy with morning's We we'll that, table questions.
