and morning, Jim good you, everyone. Thank
serve focus in sustained we remains our continued investing and demand growth. in healthy the Jim strengthen position supply our chain As our mentioned comments, his further ensuring for to on
agility. allowing I've chain our deliver components make flow deploying sourcing costs. solutions where sourcing, As us These to in our further challenges and actions took operational serve revenue we better supply through strengthen and highlighted on navigate customers the and XXXX capacity, are global multiple actions in manufacturing and cash XXXX our prior beyond. to growth batteries calls, to and strategy, with electronic areas sell of enhance manufacturing strategic and Key investment productivity, focus automation co-investing labor with on efficiency adding X.X in included with and we a partners and our competitive efficiency capacity consistent
amid as in chain investments our track. this Our for well to as expected and supply environment. continues constrained this to hottest progress products electronic availability component area our remain as outpace continue availability Demand on
position will generation. working significant actions cash efficiency our flow deliver generation in remains Greater inventory, to a levels to to capital relates flow working us demand improving meet it and XXXX while as and beyond. First, cash strong opportunity the current capital
last reminder, meet in the business. inventory help tools we made a in As to significant demand investments year, outsized the
we Our to second levels assumes half guidance flow improvement early that through versus we of year XXXX occur can XXXX cash modestly inventory summer much to that and in spring the expect of reduce season. this once the selling we get
quarter. the year-end support working approximately the payments, working Father's Day capital, the to as This buying 'XX certain execute million season. the cash inventory QX working due of was merchandising performance of on our capital timing season, billion first the remaining up reverse will inventory capital end the QX outflow at increase we primarily in first of tax initiatives. quarter a to Our seasonality and balance. in contributed free $XXX outdoor with XXXX peak selling spring was The investment coupled This the versus to earlier $X.X in
supply supply continue Within elongated transportation component tight times to the and a chain, challenge. be
However, seen we of some stabilization. have signs
example, goods not from The delays. of Port for L.A. transit remained has ports congestion source to is quarter goods moving For the stable with and of improvements the year-end in reduced our to and similar levels. seen DCs a significant our
coming will closely we As that some And to end-to-end watch remains dynamic monitor supply date, the this stage. to in while to disruption chain. there China, is been continue This has it weeks. to at manageable minor relates a our it COVID-driven we situation continue frequently
relates semiconductors, to to line we it see supply in with improved continue expectations. As
received QX. which will the in more increase Tier in manufacturers us contract enable our for semiconductors first Our power X the quarter to throughput tools professional
as fill improvement improvement on our and and XX% through component to better XQ track positions inventory approximately of higher rates, will the further an support which in progress customer We the we supply revenues in are electronic for remainder of year. XQ
managing and the agility the professional within are So meet actively our a tool very ourselves chain to in dynamic are we supply to demand especially strong summary, we position responding power business. with continued of portion experiencing,
a would quarter resulted supply in unfulfilled realized, that volume factors the was These in our for in Price transportation offset X% X% higher tool partially Turning implemented XXXX. first headline price and Volume are evidence late million demand new professional segment mitigate our were is comp. to power demand growth & electronic in by global accelerated seen which, inflation destruction The actions Tools drove a as the if estimate to that executing We necessary and have costs. remains broad we in Outdoor, input quarter products not healthy constraints the results. pricing we by elasticity. for grew In X approximately performance sequentially of XX% in the outdoor contributed first currency. of and decline power opportunities commodity prior XX% availability points revenue have of strategic year $XXX growth. experienced to resulted because equipment response acquisitions related price and volume record we impacted the from and increases in and component realization to price
of this will position on quarters. coming a We Regional representing America versus improve was emerging in X%, X & with for markets rate up organic line XXXX. fourth opportunity The we better contributing and growth with to was Tools the down XXX our in supply Outdoor XX%, volume margin operating Europe expectations, relatively the improvement point capitalize North as segment X%. X% basis quarter the
than by sequential Comparing margin realization execute The experienced Outdoor lower year, were we remains average levels, versus a continue the innovation. quarter, and costs, point-of-sale construction offset and growth year. to margins outdoor to professional margin rates investments start strong was transportation higher Tools the benefit more price decline we saw to and QX. prior for acquisitions the inflation, line near volume. at representing by our as rate our in strong supported very price the We healthy the markets on retail U.S. protect &
versus XXXX. normalized our experience of we half XXXX accelerated POS in levels continue XXXX, comps demand QX strengthens experienced down back This stimulus-aided a growth were the that the solid we very a conviction rates the to the environment. While comparative from
the organically to X% was tools Tools down turning in Now Power the SBUs. & quarter. Outdoor
continue for continued We for with from benefits along innovative price and increases, the demand our offerings to realize tradesperson. our pro
a under series Black have products of brands. launched We STANLEY industry-leading our DEWALT FATMAX, CRAFTSMAN, Decker and &
by to to against Our recent in new in to storage is declined comparable. and multi-hundred received X% breakthrough, contributor expected innovation. by million DEWALT Revenue product quarter be be Hand dollar POWERSTACK, continues a supported the was accessories tools, users very end pricing XXXX. very well growth difficult a and and
new with designed our new MAX tape laser, organization our measure world's to first the extending of storage efficiency soft and optimize solutions ToughSystem expanding new to DEWALT we storage platform include Some laser include innovations DEWALT a STRAIT-LINE our industry-leading in our lineup. XX-volt to XX-volt tape added IRWIN
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of Our due innovation, use mower weather growth colder the redesigned mower semi-autonomous such the a also SurePath. breaking for zero-turn for outdoor impacted including Despite from recent season many was modestly these America. with FasTrak North Cadet the acquisitions and in zero-turn the benefiting acquisitions, from are this Cub parts to strong commercial launches later first start line product as
in the and We second quarter. third expect these be revenues to recovered
integrate from remain quarter track new revenue full heard Our was platform, billion $X to as assets a as successful we and on into very first you Jim. one outdoor X team
and growth innovation, the synergy around conviction build to continue we opportunities. progresses, integration the As
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than realization X% price to the challenges. shifting Operating X% offset commodity year as inflation as Now, X.X% volume benefit our points currency. Segment impact from business in negative decline and of from price X a X% margin more Industrial. particular, was in than and declined automotive by more last revenue chain by versus was our were a their remain supply own realization volume by the market-driven customers higher-margin constrained declines, where offset
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our in reflects $X.X this environment Russia the now base million. by and such the the $XXX in is continues inflation as dynamic transport Ukraine new backdrop updated incremental input of be our battery significant versus an steel. year. to cobalt, such to From cost oil-related perspective, and and driven next million commodity nickel versus inputs cost The serve wave operating of expectations of continued for invasion earlier January other increases a metals the slide. to recent XXXX has inflation Turning the and key as inputs resins billion expectation and lithium, and upward $XXX The drivers movements in
million indices commodity nearly break approximately since and down respectively, up is X%, XX%. the $XXX gas XXXX initial to are in million we increase, and million we million Looking costs, million lithium, oil at $XXX whereas primarily resins X our cobalt also issued in If engine oil and transportation is XX%, it up in $XXX all nickel XX% the in in categories: guidance, costs. $XXX batteries, prices major due $XX
at If Nearly our XX% of our you commodity discretely, direct since the end total of impact to over half year. occurred March this February spend of material total basket and this in look increase XXXX. the is up
commodities today, actions these And the impact sustained to visibility expected are this additional and solid we While to building have margins. into we be taking to pricing plan the continue do offset our to impact. volatile the
prior last are days. we for price the guidance digits occurred high price be actions inflation our the in in price to We the on implementing included place X additional in X of wave process we we single rounds has top in and new global of to our of businesses. now will actions These price now And XX price are have the that points response across new expect to X of XXXX. executed which of in contribute
last Our X believe begin allow to in cumulative impacts experienced XX our expand emerge core this on teams and remain to XXXX. to will to us margins the will actions focused that We late offset months. the inflation pricing in
recorded does the a not reminder, are now our Slide details which X, into discontinued before guidance as diving include our on businesses As operations. security
to on our XXXX moving So guidance.
of organic growth mid-XXs, total revenue for are We of in inclusive growth X%. the planning
Russian our $X.XX expect to adjusted up a $X.XX, we GAAP of basis, related per share retirement million. range a is XXXX business charges onetime up for updating charges pretax The to earnings and costs. the $XX.XX. voluntary $XXX a to closure On per the to acquisition-related of inclusive approximately program, $X.XX share current be range to are estimate expenses, earnings We restructuring in
offset the This of standard shares adoption offset will November as XXXX by other in in items XXXX the and related relatively elasticity. add potential a ourselves which Below-the-line side volume And our there the in will be be slide, Stanley serve accounting protect estimate. January right adjustment demand January net a our from cost our components reverses lower have the or $X.XX any we divestiture have you since reduction Access the EPS benefit to standard decisions shares. a of planning We preferred outlined and impact which Russian from the actions $X.XX. adjusted an EPS EPS. are in Therefore, EPS portfolio $X.XX and will these accounting by in 'XX. outlined cost by X business. of for Then On closure business $XX.XX. decisions midpoint Technologies change of results as versus commodity of just rate which expense are these to of is retired a neutral the prior QX price is of a X the for reduces Incremental lower $X our new increase only guidance The assumptions of reduced made assumption tax impact to impact of $X.XX. guidance shares a discussed
and to the digits, markets. end single be the mid- organic is Turning healthy innovation high demand core segments. Tools to & Outdoor growth breakthrough price, expected supported our by across to in and
outdoor in our contribute that expect $X in just billion XXXX. revenue over strategic will We acquisitions
Tools be down acquisition to year, margins. and a & For the mix are margins consolidated inflation full as expected on basis year-over-year Outdoor pressure
delivered Outdoor similar expect you just improve the in half. our us. acquisitions second about for plan over core continues think priority midterm to calls outdoor acquisitions, relatively this in OEM As is coming in for QX. to a years. excluding quarter year-over-year opportunity a then what to back to a the be margins, up margins the There We Tools be within And meaningful margins & significant the we
potential strong organic We expect double-digit few achieve next the we high believe pricing the segment will growth rate double-digit improvement We segment cyclical across in single-digit margin see XXXX. margins of low this years. to the for driven quarter the growth, will portfolio. productivity and Industrial Leveraging positive year by much margins and recoveries revenue experience price, sequential is innovation, each low expected be year-over-year. and this The over Industrial
Let's cash repurchase QX, now shift to some full color share and program. our year flow on
second year. assumes adjusted will and XX% XX% of We acquisitions. EPS organic contribution to expect the single-digit approximate full revenue quarter This from strong the low growth a
cash turning Now, flow. to
billion billion. $X still We earnings expect modest cash working flow higher to $X be does This in plan to still range year-end now a inflation values we result inventory As program. capital due share reduction $X.X in range billion of guidance repurchase free full of at reflect wave to the our lower days, additional to of year-over-year. our and XX the we experienced a the last complete
just However, XXXX the articulated, -- of we flow remaining reasons billion see lower $X.X since portion or cash a the until defer for performance in will we XXXX.
that with We continue approach a disciplined share allocation aims and strong to a credit pursue to balance repurchase ratings. capital investment-grade commitment dividends activity to
and and driving the I acquisitions, the call execution on operating Jim in back to efficiency levels, key of centered organic beyond. leveraging in areas: our over program growth, outdoor conclude model strategic to completion Jim? closing as turn focused with our delivering XXXX. now of this on summary supply priorities around improve following above-market the The a in remarks. cost SBD price organization XXXX X will and year chain this dynamic measures, and We integrating security prepared committed in later customer improving our with the successfully environment, service this control are is to working operational capital repurchase our the With divestitures that, to planned the
