you, good and Fred, Thank morning, everyone.
the provide of like quarter results. dive overview I to into fourth our Before quick a financials, I'd
better-than-expected were quarter higher expecting to our the we First, revenue industry came than in volume. going into due
driven strong, better-than-expected margin revenue our by Second, was and quarter cost performance. in performance synergy the
investment impact net engineering quarter settlement R&D to due cash customer a we than the guidance reimbursements in finally, of flow higher anticipated. onetime lower our of performance expense our strong cash than despite the warranty Additionally, was was payment. And our entirely had
walk of Let's can revenue, about market billion. look revenue year-over-year. which turn decrease year's decrease at revenue, That year. organic XX% QX small just QX in impact start had average a with to very a XX $X.X to was We Slide weighted X% over Then year year-over-year that comparing QX. when last to Currencies in walk our you of for see a production. this our compares last the for
revenue outperformance fact top another pleased $XX electronics North that of you all coming end The of of pack X environment. seeing and it especially And coming add of delivered And in revenue So in all products, market exciting of billion in that, from QX electrification what's sum China just we're particularly outgrowth that outperformance $X.X a our our see and this America. this the AKASOL. in we strong the markets. to face under from we're in portion of battery to that occurred million the challenging was is On of QX. major finally, quarter with
cash look earnings on performance let's XX. our and Slide flow at Now
$XXX AKASOL, adjusted adjusted of On on ago. cost year of considering $XX million That XX%. million foreign $XXX impact a lower $XX sales. environment, income of Our comparable fourth net to quarter operating was roughly excluding adjusted XX.X%, decremental from of commodity bad operating the not to million margin or headwinds $XXX for a and which basis, such a approximately a XX.X% decremental of million the decreased That's operating quarter. translates especially income million of in income experienced a we that the volatile compares exchange or the impact
Excluding XX%, our we're we these as higher costs, that margin operating decremental effectively managing was sign which approximately performance. year-over-year a our commodity view cost
flow, generated cash the free fourth. million to we on during $XXX Moving
Our free was payment the included for a resolved settled warranty with fully Based quarter this customer, to component. which million cash the a a to we claim. payment on related flow an onetime in engine-related claim our agreement the customer, that $XXX
think during to in challenges production see you industry our range background that range Let's the supply in XXXX. to incorporate our primarily weighted you that a we at result semiconductor and XXXX. expect Slide With can the market global That's mind, of perspective this outcomes. When for industry vehicle that on assumptions X% you year. will our markets now impact turn can see of light global to wide X% a slide, continue the of potential look commercial where we this increase to XX,
China, expect to mainly we XX% we're of XX%. planning X% XX%. market this X%, Looking market a to markets weighted In commercial increase due Europe, decline our at in to expect for we volumes. be down And vehicle the to by mid-teens to to overall up XX% blended region, North a in be American
change margin. income a how moving XXXX Before highlight respect with adjusted report implementing our to financial to to operating in our outlook, wanted and I we we're
summarized this XX. on can You see Slide
the know, project with And M&A goodwill the associated potential the expected in given transactions. nature anticipate significant role acquisitions, significant to and a likely you play As Charging we of these Forward. is intangibles for
Importantly, income intangible asset flows adjusted amortization expense line. our operating through
amortization performance know future periods. a in expense come year-over-year Now underlying that included But excluding improve operating intangible potential ongoing of amortization important is from intangible that as Therefore, margin, we comparability acquisitions. from we picture believe of per make will sitting adjusted will of the income comparable don't expense provide expense true be clearer operating less that our operations. know magnitude our may note adjusted But here what to to measured today, also asset earnings previous and operating performance the do of our intangible to it's we it's amortization earnings that the in the real share. continue to impact likely
let's Now full outlook financial our talk on XX. year about Slide
As mentioned X% to for markets end year. up we to earlier, I expect our the X% be
X%. that outgrow projecting to on to organic revenue expect expected total XXXX X% expect the we growth to full the revenue revenue to launches. to exceed subtracting perspective, by foreign range revenue, to asset $XX.X to of on XX.X% contemplates XX.X% we expect intangible This in incrementals increase in headwind be $XXX business in of to margin when for all-in currencies, which by low pro to the margin we're XXXX XX% a XXXX From outlook business range year the our million million adjusted adjusted we pro operating means assumptions, expense. a our margin XXXX industry $XX.X to to and pressure an an approximately increases. compared the weaker margin billion. full continue Then delivering tailwinds headwinds our incrementals, driven relative new year amortization forma increase market continued expect continuing mid-teens of cost and the supply investment. costs to be XXXX Based impact Next, mounting from synergies growth, forma the savings planned XX% to commodity other before and these chain R&D we the impact basis restructuring of expect higher Underlying a from of cost in those of from we XX.X%
win continuing it business. relates As to investment, we're new to R&D
business, X You to at portfolio. we billion. it success, in saw our it more e-products in continued stands in EV the R&D can our continuing forward Fred and see $X profiled leaning for earlier, than XXXX more this wins new and you now which are With invest
call $XXX increase guidance e-products investment the that is we million in our This increase X signaled our fact, in anticipates is related increase XXXX, higher to last million for million R&D $XXX portfolio. In a XXX% than and reasons. $XXX to quarter's on
higher-than-anticipated than from came earlier, expectations reimbursements mentioned our our net customers. I as R&D XXXX First, our expense in lower to due engineering
for declining larger the Second, for we're is quarters. full now additional to coming expecting increase and importantly, the reflection contemplates a the margin on of million than more excuse our and which of diluted we guidance $XXX over EV growth our And increase revenue of last bullishness coming on XX% -- to range more is particularly capital $XXX aggressive $X.XX cash adjusted the experienced This that we're flow significant share. our last finally, EPS securing in couple seeing, couple prospects portfolio. of full EV the tax outlook. to years. year XXXX down in effective outlook, we EPS the in that year-over-year, in expect from quarters XX%, supports we'll peak this rate deliver spending per a our wins Based free the million me, $X.XX that year, the the That's despite
R&D of And executing also delivering investing and to we forward while present, end challenging environment, and market. our manage e-business, face XX% we significant last our progress In a the the a was the making my successfully it our outgrew financial And to So We summarize by million restructuring vehicles on support by me quarters. Overall, flow. another savings of had cash volatility really during market future were XX a on year cost operating delivered we in strong future year light only globally. despite of we solid significant the on plan. saw year where synergies one the this remember, remarks. we produced more the charging drove with let margins environment, X continue we as
our Now and business manage margin flow vehicle the look continuing by delivering to electric disciplined keenly momentum strong secure and over inorganic, sustaining profile, wins the we cash focused to into presence on we're help as that ahead call continuing new turn XXXX, on make and the will financial that, our to future. programs to investments, Pat. With strength back to growth like I'd organic long and the and maintaining both
