the prior everyone. our X to quarter start year. a with morning, slide good summary and results of John, Thanks, first I'll compared on
and mentioned, quarter John EBITDA adjusted first As sales, delivered margin adjusted we margin, gross record EPS.
again program cross-sell Our our expectations. exceeded
Our approximately sales contributed services of Anixter in ability Wesco million the products cross-sell to $XXX and quarter. and
approximately the organic with gains. share quarter a price basis, growth sales estimate the points with were XX% We an up sales of five and along in On by added volume, segments. driven foreign combination our to due were a by basis, partially up EES On in rates in offset from to UBS sales as and primarily benefit the were sales headwind additional XX% reported exchange quarter. Rahi a pricing
some started instances, flat up associated sequentially including year-over-year end with Rahi have Supply levels. and returned total, high was normal. heal XX% In Backlog acquisition. backlog have the and, of to chains continues to be the at in from historically backlog December, to
However, critical for breakers lead components transformers. still such as extended our we switchgear, segments and times in UBS and are EES experiencing
chain an Wesco, and timing is for While supply near-term a around our has positive improving issues customers inventory. created suppliers, some it
adjusting times are to versus patterns order our shorter year. lead reflect last we Specifically,
support current backlog record our Our X% XXXX. X% deliver to to growth our inventory levels and revenue in expectation
April, the be sales workday As led including second the demand Rahi up were acquisition. both to low impact comparison. has approximately were continued double quarter, the and X% we start a the a month be on period UBS, In and which CSS tough digits. adjusted by Preliminary to April top of resilient base dollar continues year-over-year, stronger of up of growth
stack versus up This of was points margin pass-through and two-year basis comparables adjusted in quarter the Recall are XX% prior and quarter first workday margin year a XX particularly record the was at with year fourth result the April. up in first preliminary Gross half a basis, of sales price that increases. the XX.X%, by line supplier were On program the in challenging. effective driven improvement again XXXX. of our
as merger-related net below interest costs, prior operations was to year. excludes compensation primary items and $X.XX, basis adjustments which quarter EBITDA, QX EPS EBITDA points expenses. the above was sales prior than the Adjusted other record, was integration recognized diluted and margin of a XX% also and at line XX year. or $X.XX record core other and related The record the QX was increase driver higher above of Adjusted for prior we Adjusted a QX the another the stock-based year. higher this X.X%
quarter, price markets. and This the XX% slide volume bridges in with a page adjusted including the to versus Organic Turning sales year-over-year EBITDA. the in benefit prior year, increased sales our in along increase X. growth X% from
of XXXX supplier increases price there contribution price to and these increases, the the moderated. quarter moderated in have relative expected, magnitude as been the has from fewer As
majority the impact cost million of the quarter. the drove quarter XX% in Adding along of to the sales continued of versus expanded Higher gross prior increase, Adjusted synergies gains. the the as the generated with EBITDA share growth this was cross-sell in in well we $XXX and year. margin as the increased realization
XXXX, related we higher experience volume shipping including continue and with commissions. to sales operating costs, Consistent
headcount also of recognized benefits related in We well expenses and SG&A of majority incurred our cost the compensation expectations, facilities. inflation operation the business as higher EES as unit. to in employee the increases higher above increase came for and to our with due
continued synergies with Finally, our investments systems in the plan, our in realization expense. compensation tools. lower partially accordance by we strategic offset cost incentive increases and cost of digital integration These and
of and Organic our a sales align certain in business QX, customer accounts. UBS to to Turning in slide EES and quarter management from CSS Recall transferred were first that better X% to record. our up X. year-over-year we beginning EES businesses certain sales
organic solid impact EES been X% sales our structures this specialty above manufactured vehicle demand. OEM continued sales of mid-single sales digits. growth would low growth primarily digits markets, transfer, and and by lower reflects year-over-year sales have year. were prior down industrial up construction in the double-digit driven momentum The Excluding primarily single
was gross Backlog $XXX with Segment year-over-year. the margin prior down XX% for Adjusted approximately level first X% from higher over EES, was year. lower year. were flat adjusted prior prior and EBITDA the record basis than was XX the margins the million year. up points December quarter, In X.X%, EBITDA
and the logistics However, and to specifically headcount quarter, higher costs related in transportation EBITDA. decline costs in SG&A drove the higher
effect reductions profitability and half the quarter EES on initiated will quarters leverage the the take improve year. by of second in to driven sales. second in third the seasonally operating in second We SG&A expect higher
X. a our and prior slide on versus to record an QX CSS up Turning in the basis. Sales business year XX% organic were
XX%. the have ago, and the been comparables organic a March, mentioned of the Of critical sales inter-segment strong toughest February the two moment business impact growth the CSS growth Excluding of would transfer quarter. importance was I in
year. growth security, well very digits, which We saw and and was in growth in audio installations, than from up XX% was network by mid-single center digits, up up solid low data applications, cloud professional strong visual infrastructure, more as which as driven double prior
year including sequentially Rahi, product decreased the X% was normal to from again over projects up Backlog, categories. availability a backlog lead improved prior to were and to of able return we most release more across XX% product due times more as and
integration adjusted margin QX adjusted margin Profitability year, successful and execution EBITDA higher operating initiatives. prior of continued leverage, EBITDA the synergies the our was X%, with than driven cost by basis XX also strong improvement points of record and
respectively. sales X. prior our in double of supply organic versus in growth above organic the slide We in business year growth quarter, our integrated basis UBS business XX% Record the on marking were XX%. digits, consecutive up broad-based with over quarter low up XX% up and experienced an to Turning sixth and sales utility the
points over customers up down Profitability Backlog were as another double levels up of consecutive approximately versus of basis low sales XX.X%, record with synergies. initiatives our quarter, leverage by year and adjusted was EBITDA of certain last sequentially. prior that the an improvement in margin year. exceptionally were quarter higher EBITDA through up on work prior driven built XX%. inventory XXX was digits the sales, This strong Broadband year, was the and above fourth margins X% XX% margin the higher integration adjusted operating
opportunity page $X.XX our bringing In Wesco and cross-sell Now moving total the revenue, of the to billion cumulative The the beginning of of $XXX since expectations. size recognized continues program. combining of we to exceed to Anixter XX. QX, million the cross-sell
expanded Our pipeline the remains of again sales and in healthy opportunities quarter.
Anixter complementary We the services, customers. between legacy are as products portfolio the minimal overlap on as legacy well and of and capitalizing Wesco
cumulative program total in months XXXX, of As $X.X secular billion, to strength we our reflecting look expected we at are accelerating of against nine value the our the the increasing trends. the backdrop remaining proposition of
that integration in end XXXX. of realized our XX. XXXX. million rate on is track Turning meet target This to to remain slide expected a run million and the $XXX the cumulative throughout with by $XXX of shown million the cost in $XXX of synergies We XXXX we've slide
of synergies. balance design field our Our the drive operations through chain is network and to cost focus year on the supply
cash to which The see free March draw you as payments in from of in a this Turning of Receivables customers million. QX sequentially the $XXX XX. driver delayed into quarter, was On more capital, income. was than some working increased a flow which page primary page, bridge net April. can offset first
reserves are However, levels. bad and write-offs normal accounts receivable debt at
few inventory was in due to a The factors. in the increase quarter
As of continue to see are pace shipments chains accelerating we suppliers their certain us. supply to normalize,
the recall not ship until product typically While do for customers, that positive availability available. is our our to product their order entire we improved of a customers is
expect $XX an we levels, the inventory cash we generation normal driven year cash were cash of the quarter, collectively accruals. by cash based of Capital to seasonal QX in projects, and $XX will through the of use of in and was see make year. Payables backlog and shipping million following $XX fourth million of payments generation an the of approximately expenditures the which timing cash progress uses the purchases normalization quarter, drive the rest $XX million a cash in use As on sources were of prior quarter. other in million the
Moving priority Anixter. Reducing to acquisition Slide XX. top our since we has of a been the leverage announced
quarters leverage to our targeted of leverage the $XXX the we Leverage turns, While last through of within use cash to full of remains flow one-tenth consecutive million. the by increased a QX end year, expect in eight well driven year free our turn decreased cash X.X to in of and million quarter. of range X for generate $XXX
Given target will the our our of half we second leverage to the the current expect environment, our be the allocation and levels debt year. priority until interest down in which capital of we pay near-term reach will debt range, occur rate midpoint
profitability company the our This secular trends to base aligned with shows strong to end-to-end our global the left of directly page years this customer of page. we in moving on ahead. provide that growth shown XX. Now and to the slide drive The are side six growth uniquely solutions the position
increasing positioned these the sector infrastructure, with participation trends, make public exceptionally investments broadband well. partnerships sector, in Our Wesco and coupled with in private
due As Wesco we above last secular X% expect Investor benefit and growth of at company. grow share. X% we market our combined to the to Day as In trend a we growth short, outlined to year, the view increasing secular
to XX. Moving page
to trends which a our contribute market approximately line, combination volume in and today is X% first demand and X% on XXXX, record to is quarter. reaffirming the top based In expected to results of growth We price. the outlook the XXXX are
points pricing We be will to our four in of any of Price points future two to in carryover expect actions. based that flat XXXX guidance primarily secular our US three incorporate XXXX volume on in to impact with tailwinds actions XXXX. not be growth. GDP Recall does providing pricing one
believe we growth, X% additional two organic efforts market to cross-selling addition contribute the In market, continued X%. points scale an percentage to and to one driving our above growth will total of
we exchange, the the to and X%. and After Rahi from will of foreign factoring in working in of days our reported revenue be estimate the growth impact additional range X% sales
reported expect versus business low strategic by both sales increased digits. and XXXX, CSS double our up units, with mid-single high to UBS we single digits EES For
appendix, account and we discussed represented that highlighted Please to to note sales we approximately CSS began moving the earlier UBS and with $XXX EES UBS. in the these have XX% accounts of effect and million XXXX, taking that in transfers CSS to QX. from moving XX% In
margin, represents points X.X%, X.X% of which EBITDA outlook range XX of to adjusted our For the basis for is expansion approximately at midpoint. a
in expect earnings of cash at of free history. between the flow million. represent per our $XXX This the We between and midpoint share and free would adjusted flow flow $XXX to highest $XX.XX million $XXX $XX.XX cash outlook cash free million
during to net operating XXXX expect outlined Consistent our Day we to generate cycle, the during the flow the cash XXXX. billion the we to September, still we $X.X free company billion $X.X of Investor equivalent Through will in flow of period expectations income. with deliver through cash expect
note, year. positive a of range in to us the To to a increased of rest to our flow half return year expectation variable higher our $XXX deliver cash second million, in for $XXX interest to from and net the flow the XXXX. timing expect of of of $XXX We QX for cash by rates million $XXX in we of to cash paydown to free expense million million $XXX $XXX the driven debt the primarily million range half first million and for to the targeted free generation neutral
foreign expense. for pensions $XX $XX slightly We with devaluation expectation of for expect which expenses million have first expense other the were along recent $XX full our to captures higher the million, quarter, million expenses, related the and primarily foreign certain expense, certain exchange. reflects impact the pension In and to year. non-operating of approximately we detailed This currencies, these
in to of tax rate reflects certain our prior in of to than of the tax This a few discrete We items effective expectation expect to certain the remaining ETR the for XX% over effective approximately slightly the debt years, three of primarily revised due This instruments. rules XX% still outlook XX% our due for rate implementation of the lower year, year. past above an Canadian to about related the quarter. the hybrid first our is quarters business benefit
valuation discrete one-time law one-time tax also change and related foreign benefits benefited Canada. XXXX allowance tax primarily US certain on to certain in discrete credits a from items, in regarding the
related spend In transformation. continue on $XX computing XXXX, we million $XXX to expect additional arrangements to approximately million our digital on capital, cloud-based an to capitalized
statement On other changes the $XX approximately million through approximately million $XXX cash expenditures capital and flow of in will flows, assets. through flow will
to the expenses, more rate EPS be experienced continue that year, interest the tax be the but we than we QX by range. offset For lower will and other in expect higher within adjusted will outlook
XXXX our of count million million diluted expectation results, This Our consistent of an reflects at year. last that outlook third consecutive framework EPS XX year free average record Day and year. outlook the a for cash be long-term will share shares assumes financial XX our with to September we record the gross in record is presented flow and Investor of and margins, EBITDA the sales,
the expectations transaction will complete substantially year the closed. the results Anixter with integration to in outperform the raised time of the We expect and our since set of at the we end and XXXX
provide the Moving what brief before covered to morning. questions, of we let opening slide XX a call me and for this summary
execution our our cross-sell EBITDA with again great are profit, We in outlook operating again through margin. The three share business in and adjusted gross quarter We record XXXX. EBITDA units, record and quarter had first synergies all to we cross-sell the took sales increasing adjusted a program, was start our for along first sales year. of margin,
prior Profitability as strong margin was margin also gross both EBITDA in the the and quarter versus expanded year.
continue be will year of to XXXX our expansion. initiatives, continued growth a continued digital sales margin We and execution strong expect with transformational
flow of allocation record free support deliver to priorities. million million track $XXX on capital to our remain we cash Lastly, to $XXX
your open we'll call that, the to With questions.
