thank morning Okay, Good Tim. you, everyone.
If line adjustments, our you restructuring, and third quarter expenses for exclude contract expectation. integration results with actions, were in our
During around again the once the grew orders backlog, winning transit quarter, world. our its business record
remained the freight are and the flat we for quarters, U.S. a of Our have past pickup slight aftermarket. stability, and seeing revenues in mostly indicating backlog four a level
improved to finish backlog Our and adjusted the and our operating increasing on year margins a we existing expect strong synergies. sequentially, based
make completed acquisition improvement less our to Faiveley year opportunities to even of growth the Wabtec, the meaningful than in strategic continue today excited margin more Excellence ability Faiveley We're part and worldwide with Wabtec through and integration in first drive also the process of after application lean Program. our our We as progress just process. one and about the integration, planning
call, today's we'll During cover all these details.
So let's started. get
about talk Let's quarter and full-year. third
adjusted $X.XX from We the situation our in combined the the had and revised expected and recent excludes estimates existing projects. Faiveley that than had project current technologies, of based businesses. certain reviews, expenses benefit believe for EPS reviews. we reflect we Wabtec contract these processes, for the our these $X.XX integration, practices and contracts quarter, adjustments. legacy restructuring on using best most $X.XX third and the The For the costs on for higher reality of adjustments reflect of In
of transit, year. now some $X $X.X specific also guidance the we Today, about adjustments. freight. $XX million billion as guidance, but of in we revenue their $XX the revenues $XX competitive $X.XX was are and updated aren't about booked, we We We Compared ramping full already million prior expected. million slower backlog expect contracts that million for by was in to discussing in than for we've restructuring, our $X.XX customary reasons, and projects and reduced excluding contract to EPS up integration, our had expenses for
of right quarter environment, demonstrate in fourth to the Our have target operating the on Even continued on margin are we about stay be fourth Faiveley continue our disciplined the with saw And process the it our continuing opportunities that during the so actions taking growth synergies positive the Positive we as comes about to with capture properly business, to outset, at integration the we effective That can. remains year. this the we mobilizing transit excited size quarter would on we quarter. means operating for new to costs, XX%, being quarter we continue I growth so, we to strongest and can those the stated expecting the still a and which controlling for freight Faiveley focused things developments future developments, to challenging means and we're at integration. third based which progress remain projects, expect. guidance,
organic which growth. a Our is again a positive for $X.X backlog once indicator billion, increased record to future
slightly contract in a higher margin despite first operating margin transit adjusted half, toward mix shift for expenses restructuring revenues. was the Our and slight lower
long-term confidence Longer by development. at track focused integration. Faiveley target portfolio term and leveraging supply new progress We're We're continue $XX to we consolidation, and synergy to million We the especially in $XX gain that global product continue year-three administrative with on $XX deliver capabilities. along million million and cost through XXXX, of strategic rationalization of synergies to synergies engineering savings, synergies least make chain operational and on and our expansion, is market in are with product excellence, driving efficiencies, facilities and conservative. our to
strong both million. is General about has positive components as services. for systems after both acquired solution technology European a a step just protection ended. an and next of by and for five company opportunities, it a of we years in brings quarter for acquisition $XX That retrofit company General sales markets. and called Europe, including Based rail Contractor. the rail transit We fire patented gross manufacturer and regulations. AM Union infrared closed the Another Its for mainly driven is a extinguishing AM And AM aftermarket industrial expanding market offers General presence cars. annual
AM's addition, the technology markets geographical offers such In in opportunities China. U.K., expansion India, and as
let's presence. Also turn now integrated an company, to strategic transit the strategic Now, planning benefit the our during we Faiveley's of completed the from contribution process. as plan worldwide quarter, first the with
pursue enthusiastically on the all base technology and plan We generation PTC in we develop margins, through a to major Five lines, balanced, business and to, initiatives satisfaction, we The strategies, company. more to each market five-year help meets was customers growth expect presented expansion, productivity to which goals example, efficiency. To strategic while to products grow years growth this improving earning in continue we fit. continue expect financial double-digit cycle, in for grow embark safety. to to margins. improve now, received. improving these expansion, in leverage in customer to and long-term new average stronger, products We to on maintain our be segments and achieve And major follow position through the plan our market cyclical product from strategic our invest have aftermarket technology leadership key quality, our Board global, new our continue and to to functionality. we to to plan and continue and our much it do while Lastly, less our the our consistent are of PTC growth our acquisitions more with revenues and to North our America growth plan for goals, to to to features initiatives corporate to through installed technologies, and through
We are of be event. early next XXXX. Day planning in that information to that for sharing objectives we with early Investor stages will forward of look strategic And in held and you our meeting at planning the some the
benefit has transit many Now scale market than a aftermarket. margins Faiveley, player the growth to visibility, traditional Wabtec U.S. turn into business global more markets of with markets. share the more stable to mean opportunities where are other organically acquisitions, our larger as acquisition and from should transit and segment, our truly increased and we time better Over through stability, both and that improve transformed
X%. We several the we bid organic we significant on growth of sales During continue and had others. booked to about orders quarter,
worldwide Recently, Our next option represent as orders customer of major backlog a which remains orders major with which our in demonstrates have in at product record year. all we well and Many repeat categories, or supplier. organic customers. a won all us major high those growth satisfaction markets, bodes all with
this demonstrates of position market globally. our All improving
double Caltrain first XXXX. the by remember and of MBTA, brake Canada, for we than part a -- and high revenue framework to sets Indian awarded for could and Bombardier aftermarket be orders means new deck in for regional we systems, and Other Under both Deutsche pantographs. transit completed generation and September train trains Couplers aftermarket complete in a supply contracts, Paris. XX contracts orders by Alstom profitability Germany to is by and through systems, these in services orders braking air-conditioning contract million to that around Swiss in include XX up were term typically for for network to aftermarket of go the example, to U.K. systems more XX into to MBTA, OEM Bahn This long of door which and and the XXX Railways, XXX contracts will HVAC And and segment. XXXX systems, Deliveries provide provide trains. margin years all start which are expected Railways, National For lead
a America, our In of cars revenues locomotives we stock some freight rolling backlog still On which four rail traffic been positive to challenges. past for face and have stable storage. But North quarters is a in freight the although of side, still indicator. rail the grow see of are freight freight storage. XX% continues short-term About we XX% and in to lot continue
locomotives remain products of could some or pickup that sluggish result our these year. winter and world, market areas in and these are The we be repair next efforts, is railroads more growing. storage the U.S. market other a figures the in conditions, are components. Most freight-related likely business few friction in service OEM business are for the we to areas and work own service other we slowdown demand of As With beginning slight business. of with cars kicking with balanced. although see that and mixed market cost the cutting has typical effect into a months, and in areas. Faced coming conditions flat and will next Around seen been freight aftermarket only that are for pickup gain sluggish U.S. have
while need to maintaining discussions. to would for like the that, Pat short-term of with turn financial it in future cost growth. focused for And are over reduce appropriate we the to levels So, on I investment
