Thank morning, Fred, and you, good everyone.
overview results. our first I dive provide the quick financials, to I'd Before of into quarter a like
is weaker market. largest high in revenue First, came our in our significantly vehicle light of our the expectations, volume at Europe, industry despite which end
Performance Second, for years. that we've last our the the on cost respectable restructuring that and in is performance synergy business margin inflationary supported of our currently was executing been actions was given pressures couple facing. quarter our by
year-over-year just under was to Valley for facility the look for turn X Slide which last for disposition Water billion adjusting a our walk QX. revenue after We at Let's $X revenue, start this December. year's our of past with
the see compares the decreased this you decrease that in just can U.S. weighted dollar of X% means North a by Korea. currencies the to we driven in the challenging strengthen continued America outperformance and This market face organic end. market year-over-year. Then a revenue, X% in ago, beyond about year Europe, year-over-year quarter was to our strengthened $X.X in X% increase outperformance That environment. can has about end revenue You delivered was see sum quarter The from strong of another of That QX. of all billion a by and revenue production. under average foreign
at earnings performance XX. Now let's our Slide look flow cash and on
adjusted from impact headwinds million that AKASOL. explained of a foreign $XX acquisition million, or includes ago. disposition, net adjusted of of income experienced operating of million operating income in which income we million quarter the The is Valley performance a XX.X%, the of e-products related and the income first Our $XX was year cost by impact R&D commodity of and balance or compares operating on $XXX exchange comparable million, higher impact excluding the the sales. On material the XX.X%, basis, $XXX Water year-over-year of of decline to $XX quarter. higher adjusted operating and other decreased the This nearly
on Moving flow. cash to free
a was production increased usage result ongoing first flow a million inventory as the quarter due cash free during to of $XX volatility. Our
With commercial we conflict Let's you this of this XXXX. you impacts assumption at expect supply in vehicle our down assumptions X% Ukraine, outcomes. of which of and to result light impact additional That's can a increase. industry can of result market in look our markets previous to Slide increase to incorporate of shutdowns a China. primarily light that where a XX, supply global to perspective our When on potential is chain X.X% range as see production vehicle the now our from in range of challenges, the that year, the the semiconductor slide, you COVID-related background see and turn a for weighted X% global the X% in mind,
relative Looking our largest by where prior is see at region, we to this the guidance. Europe reduction
driven we're than which to North a be planning prior vehicle weaker increase of worse for has up market In is markets. X%, is light can to down expect overall of our in China, from the most early blended recovered plus down This that XX% significantly commercial XX% shutdowns assumption resolved COVID-related production of X% by markets And market and the underlying to America, which previous the to the expect the loss weighted outlook. We of X% are XX%. to second that be is half our both This we our in in outlook volumes and XX%. year. to X%, by be June, an
about Now our XX. let's outlook talk on full year Slide
our April. $XXX foreign from assumes rates headwind on based million the First, FX an which weaker guidance of as expected of currencies, is end
had currencies somewhat as of of dollar already dollar we've well. through through of the U.S. March, the While appreciation meaningful end the seen foreign against month the additional appreciated April
into But components in the to as region our and the of same year. our that purchase the customers. strategy outlook produce our factored we balance for is So remember,
translational currencies on in of As guidance our impact predominantly nature. a is the result,
Next, for continue as the growth. organic to our up year. our we markets X.X% I end overall exceed we be X% revenue to expect But to industry mentioned, to previously growth expect
almost look to organic to increase of approximately XXXX outperformance the X%. production. based way, means That other performance current year-to-date our pro in on impact our Based our costs. offsetting on we by XX% in to outlook approximately expected fact, XX% relative revenue. entirely expect outlook X% Forma increase recoveries To it both In our our at and to these stronger lower our is industry outlook commodity XXXX expect X%, and stronger pricing assumptions, our prior for is than for an market to inflationary performance of the to prior outgrow another relative than revenue which X% we higher is
inflationary revenue, together, Finally, items Fred to $XX revenue relates a the our these From XXXX expect of acquisition Adding to to XXXX is noted. to of the be as margin billion to billion. margin revenue adjusted year range to This in total add $XX.X XX.X%. basis our in of approximately over projecting margin the of million outlook, operating XX be which Of points, XXXX this Santroll a to point $XX.X forma $XX outlook. costs, just the our and pro we higher million perspective, is or other represents range and of basis we're to it as XX.X% additional previously expected to XX full X.X% commodity pricing result versus about Santroll modestly XX to a reduction points diluted to the $XX acquisition, compared million, this, expected net be relates year. to basis recoveries, XX prior is
to million R&D to $XXX key investment $XXX this long-term constraining relates investment, of anticipates the we in challenging environment, company. a million it R&D not As Despite e-products guidance our growth in support the increase XXXX. this are investments that still
our share. per year Based delivering being prior strengthening guidance $X.XX about year-over-year deliver this operating is of impact from EPS contemplates that the the partially and on million our margin cash offset by revenue by dollar share. in lower $X.XX finally, to inflation, million we is XXXX e-products this That's expectations. important we're driven the expecting note our that $X.XX outlook for XXXX high outlook, full capital And R&D of teens. incrementals by income, the business full outlook diluted to year. EPS our the margin adjusted lower U.S. to Excluding the $XXX outlook. reduction per investment, and of translation The we'll free It's spending alone our $XXX impacting flow adjusted expect range four-year in now
year. start remarks. So had financial let to we my me a summarize Overall, the respectable
tracking outgrowth our coming of expectations industry proved we inflation decline cost year. despite revenue still margins in our digit than the R&D with double into delivered the significant ahead Our higher And material volume, resilient more and investment.
out are the disruptions with ongoing look continue industry multiple we as markets, XXXX, continuing pressure. to inflation likely as production pressures cost to material As balance of well near-term in
time we and sustaining continue to Pat. and been work to But to plans delivering the hallmark strong BorgWarner's long-term managing by team, continue a charging growth under Managing results to call success. how profile, management and to balance at know same that, cash I'd has maintaining we a strike forward. over margin momentum the while turn and between this With our back As to like present flow the meet near-term the challenge. profitable long-term be the of will our
