and Fred, everyone. morning, you, Thank good
into takeaways dive provide coming the I of you quarter. going details, our Before to I'm financial the out key third
and pricing customer high First, strong organic we end at our going expectations the growth industry were driven that volumes quarter. reported into of by actions the
and customer our benefited conversion of on Second, revenue actions. higher successful margin our execution normalized from pricing performance year-over-year
our However, e-products were mitigated partially R&D in these benefits planned by increase investment.
Let's turn $X.X year-over-year our QX our QX. to the disposition Water for a slide was revenue walk Valley adjusting at revenue of almost for look After facility, billion. nine for last year's
in billion sum a market strengthening X% QX. weighted just to quarter revenue Then, can of under which another can year-over-year U.S. the this million. revenue $X.X about our increase we drove increase organic approximately over or was of XX% that means a dollars outperformance. year-over-year. average You all production, you revenue XX% of delivered $XXX decrease of see in in in That The see compares strong the
XX, to earnings see Turning quarter. our for slide you the flow performance can cash and
the $XXX increased The that positive XX% which of of to we million million or of by Water Our $XXX or things. a third on converted at performance additional adjusted of operating But impact offset was conversion from on and this Valley million of quarter the was income basis, On disposition, adjusted exchange higher XX.X%, adjusted excluding operating operating the two compares income income sales. year foreign our ago. was sales. driver comparable $XXX X.X% $XXX impact partially this biggest million approximately a
we our last relative by In on investments we $XX these R&D. First, in to continued e-products increased planned QX, million increase year. to execute
year-over-year in of was quarter. Second, material pricing $X recoveries the million headwind customer inflation cost an net
was mix across reduction favorable EPS free earnings effective And the initiatives. we generated planning flow; taxing have tax a in ongoing This tax couple last flow years. of rate driven in quarter. quarter $XXX cash million of by Our our by $XXX income adjusted the operating driven improved by finally, positive tax improvement we a in the been experiencing of impacts free jurisdictions and rate that third lower much of and cash adjusted $X.XX the million during third the a
Let's light on perspective slide our production industry to can XX. see for now vehicle turn XXXX. We global
assumptions incorporate a range can potential see market we outcomes. As our of
to market, American production a a including the we several European quarter in China the expect to into due in in However, associated North the ongoing in continued decrease of we assumption incorporated uncertainty high QX, adjustments continue production and have third strength Ukraine. with to small the conflict as end market decrease increases prior further
of assumptions, which of in than year, in vehicle narrower increase X.X% is underlined the prior a range to our global to As bit markets guidance. these light and now expect we result our weighted the this commercial X% a range
a XX. look at take full-year outlook slide on our Now let's
prior full-year represents million it's of important than assumes First, currencies an our note headwind headwind of that weaker additional from versus an expected This $X to guidance billion. foreign more $XXX guidance.
strategy having a generally significant the line While purchase is components remember the and U.S. the our to in as of same is top appreciation produce that dollar customer. our region impact,
nature. in result, of predominantly currencies the a is impact guidance our As translational in
to billion revenue organic Next end you expect bigger our recoveries to is net of as production. we current the prior slide. our continued growth to previously markets we growth contributes revenue on our line in That for end our growth outlook, due growth the outlook estimate market. that primarily sales just of be for impact will on our just the expect much I X% of the X% for But which for up pricing year, we than about material X% estimated under generate changes growth to That's is item now market impact year. the to above see the stronger above the $X.X mentioned, X.X% over or which organic contribute inflation, full outperformance
together, before to FX expected $XX to than million billion. $XX.X to Finally, range revenue in Rhombus headwinds. to add million slightly being and projecting items is to lower total $XX by slightly the of be these Adding are outlook as it acquisitions almost the cumulatively revenue. This entirely XXXX relates to $XX.X revenue lower driven the outlook, Santroll we're revenue XXXX additional our
of outlook FX to However, we're year XX%. to to our is to mitigate seeing. our our adjusted helping That previous XX.X% compared X.X% of our margin, is we're full growth XX% at XX.X%, the updating outlook expectation XX% to to margin to Switching prior increased for compared impact XX% XX.X%. organic to to outlook
costs material on our that's higher impact we've helping to So, negatively costs mitigate the And pleased impact recoveries in financials, with our a portion we're progress of of the made our from inflation continues negotiating P&L. these customers.
For expectation than our the impact negatively million we expect full material is to year, which $XXX lower to $XXX net cost results million, $XXX $XXX by inflation million. now to our previous million of
R&D in XXXX. increase it to our a million guidance million related to in As relates investments, investment $XXX e-products anticipates $XXX R&D
net the cost of impact in increase the related Excluding investments. e-products and R&D inflation, material
the diluted Our XXXX now prior increase an two $X.XX full year in guidance EPS per reflecting business things. to is expecting contemplates of high our adjusted $X.XX This full margin year delivering teens. outlook from We're the share. incremental
guidance of tax prior XX% executing First, initiatives earnings expected XX% we're and tax years. down couple driven of benefits from planning by of lower expecting rate the the our a been we've of last our year mix full
$XXX the share benefiting stock deliver average lower buyback flow in executed cash bit of our the full That's which finally, we're year. during a to the count, a Second, for the of million we that $XXX to we'll is continue the range result outlook. quarter. we expect XXXX And free from million
organic So, delivered strong summarize. let growth. a We me we quarter. Overall, had robust
our and year rate taken and our strong shareholders the completed SSE. continued we returned $XXX of with buybacks as pricing well Year-to-date, We've of secured and meaningful of number more acquisitions announced Rhombus, and million a Our same the driven acquisition outlook New margin full vehicle actions with by of to our electric we've revenue customers. to Business for was point for our as EPS we've performance are And than of multiple cash a drive disciplined And midpoint Santroll Awards to performance last to recoveries forward. of strong year-to-date successfully future electric negotiated and have profitable create across than margin awards portfolio. for We've to the vehicles our added our lower M&A driven compared our for parts to year. These the booked XXXX value our $XXX increasing our more performance incremental million dividends. our going growth by tax the shareholders.
M&A, view the this success result important for achieved milestone As we we already $X an But revenue EV a of our of XXXX. bookings We million that we've secured and as company. believe our success. the done our ongoing like for all on key the huge a over have back call Pat. showing still once the is I'd again balance this while turn to to of With near-term delivering commitment, that, that to
