everyone. Fred and good you, Thank morning
important I'd detail, production very were Before face to I results: two environment. regarding quarter financials like financial results in First, our the challenging of a our the solid second takeaways in the highlight review
we importantly, were During and decremental generated outgrowth the flow. in revenue cash margins below free able all second We quarter, maintain XX%, most delivered we regions. positive to strong
measures execute The financing that to acquisition. position that we us on second close on continue key successfully is Technologies message the to Delphi the
XX. Slide to turn Let's
look walk As revenue at we revenue U.S. our X.X% can year you the from about see that, for a by dollar stronger reduced year-over-year ago. QX,
America, outgrowth the good compared outgrowth diesel quarters was revenue than China XXX than contributor our were importantly, we that growth decline as about our DCT XXX as strong we XX%. few challenging last all better deliver our in to better to due in longer to well delivered we decline mix outperform impact, in perspective, the we means, was revenue down programs. the as XX% driven But our market in Europe, continue pleased the globe. From overweight outgrowth. under In in The and The by believe for the to is just outperformed market. well continue don't expected And XX%, the up our production. markets we're term. that market trucks SUVs a this in has market well outgrowth. Overall, mix diesel-related held of trend to commercial to organic North Excluding business, our vehicle than of China, over news we pickup market business been over the And has the going outgrowth our as diesel mix for around this our was light stronger compared point That XX% occurred new of products as X% the of market. outgrowth X%, which deliver that approximately even organic by sales decline driven XX% necessarily expected approximately year-over-year vehicle end primarily light by the boded us overall weighted-average revenue slightly in quarter. down positive basis in revenue basis by to ability major expect new vehicle to tailwind points programs. we In strengthen position of
performance, our Now adjusted look XX. be which at Slide operating income on can let's found
$X loss the $XXX of of compared million, adjusted was operating quarter to million in second QX XXXX. Our income
compared a down lower year basis, was adjusted negative which margin which almost $X.X Our ago. the a million we On operating was positive decreased a second $XXX decremental sales, XX.X% income translates of in to operating billion a of to quarter margin XX%. X.X%, point delivered on comparable adjusted
As saw at can we you or tend markets we to when point in year. move downward quickly, be higher, see XX% decremental last like that just know, time
the by quarter, inefficiencies and the the level So rate. share dramatic performance XX% the higher we adjusted loss was initial and decline The compared slightly income tax operating the earnings a decremental to the volume decline driven reasonably in XXXX lower costs the per quarter was quarter. of of and of second to per good in the as suddenness related $X.XX Adjusted industry production view for restart. a given share adjusted the during
flow. cash to Moving
in on of to critical just flow global is We and in quarter. free a for half, cash the margins, is that And In we which fact focus performance of what the it a maintain decremental that. clear driving are proud expenditures. million capital gets deliver We positive QX, we where second $XX production saw capital cut this very of effective quarter quarter we the manage through management and focus then working did in achieve flow. on second disciplined cash
year let's XX. on revenue Slide our outlook Now full discuss
the market end as earlier, Fred with XX% reviewed based being XX%. Our production guidance on global down assumptions to is
at for outcomes saw market first the half. but drive the to in the year expect We level not we
OEM XXXX full points, incorporates approximately the of of now to basis remainder revenue year in XXX guidance our X XXX with range guidance is the expectations year. for basis points. weekly This is midpoint points Our typical the we in basis to This of new relatively launch consistent start XXX of is basis points outgrowth which provided schedules outgrowth than range assumes and programs. the of to outgrowth timing the outgrowth given wider the production volatility at
half. of this volatility second the continue We expect will much
XX% of we organic revenue year result, a a expect of XXXX $X.X XX%, to which revenue billion. an decline billion to to $X.X XXXX As expected full translates range
our other considerations. you flow Slide Let's an can and see XX, guidance where cash turn update to on important
first in we million to as the $XXX trend markets. a of can which half as generated such to free $XXX $XXX the This increase flow, half, approximately of flow we in implies During view $XXX positive million half. and $XXX to generation slide, difficult And the second ups the free see of on of the XXXX, cash despite with you production of million we continue flow fund cash the cash million full tremendous spending achievement in the needed cash to flow investment capital the sequential the second capital free free working year. for in million ramp expect
a weighted more the expect the much working that, third quarter note expect should a quarter, in sequential investment we we step-up cash second in with larger be You half capital to revenue. as towards fourth free flow do
margins. to Turning
to continue full margins to range for decremental year be expect year. the XX% We in full the
half will namely production Second higher to of temporary weekly R&D the expected schedules end by margins our volatility impacted decremental in some be related reductions first the and half, costs OEM versus wage QX. higher and
we intend I the we in mentioned deploy margin of will pace to because our dividend current would confident from positive Also to margin that on for QX the Board's XX% decision to for we confidence sustain view in guidance really cash our growth. decrementals quarter, higher quarter. free ability R&D decremental point year feel during operating comparable our Nonetheless, full our free this long-term our in be the to the last flow again, XXXX. deliver invest that to QX flow cash As reflected margins, this important on investment our it we to year, out than due and strong to the decremental likely maintain as continue downturn, is
sustain COVID-XX through and which allowed uninterrupted flow, of went unreduced. depths us continued our generate to the we As we to this cash free downturn, positive dividend
of on Slide I'll summarize related we've to the Delphi acquisition. XX, undertaken Technologies the closing upcoming Next actions financing that the
First, March. we revolver in and as aware, up-sized many of are renewed successfully our you
ago, by While $X.X Delphi months of $XXX from a billion revolver few a today, the part renewal the increase of will additional the Technologies our is million revolver an capacity closing as upon automatically acquisition.
swaps maturing to facility, notes Technologies initiate Technology exchange over particularly The million proceeds entered a our cross this transaction, while be own us we in $XXX in months, as this an the Next, environment. notes on the $X.X X.XX%, BorgWarner offering the an currency billion senior notes X% senior credit And denominated rate, the exchange quarter, of next repay this shortly under in during September. Concurrent similar a we Technologies of refinancing finally, intend interest the we rate offering effective notes executing euro exchange Delphi with plan second make-whole cash completed which offering, also the will attractive a with potentially we synthetically we Delphi to this Delphi couple from offering. to to the of the cost effective We substantially $XXX allowing at after obligor would the converted an used notes. amounts million, outstanding of transaction. and view closing secured notes that to avoid into By for transaction. becoming debt significant repay exchange
to major complete represents of acquisition. Importantly, that this the ahead exchange closing financing the we last action the need of
and So quarter summarize cash flow. pressures, strong we spite a the positive in free financial delivering me Overall, my let had of remarks. industry outgrowth solid
were to Technologies close financing and market throughout of our an in expect But year. increased important positions that second XXXX. the We finally, the Delphi pressure us guidance cash the able transaction And flow under half execute for we on XXXX. to to revenue remain we've the acquisition
profitable that, proactively back Just the environment, navigating as for well the our the over while is I and industry said turn growth. last to to are Pat. eventual future very call company quarter, With recovery we like current positioned the I'd through ensuring
