Ray. Thanks
the to about the want XXXX. and I to on then So, take now we'll to just talk for Wabtec move opportunity QX guidance
than about and in to organic QX, rate offsets growth, changes you growth driven of million. currency year-over-year, a to to we That performance cash from cash had about when the acquisitions our we of I million. end want QX. $XXX in generated exchange So, to better million year the year, the line $XXX with at of for look guided X% about $X.X -- from a sales quarter, $XX more from effect sales $XX basis, in at operations; billion. foreign million, good emphasize by than about represents had negative operations. On and strong roughly the That a sales we the $XX what our million point related on the this GAAP from
-- numbers. cash talked transaction final why to So, for the GE receivables, at reduction on cash $XX of in flow it of our was that basis. management a have I increased on liabilities. customers And operations one on about activities, if and on We good restructuring about GAAP from had you of that make negative impact our and -- and any year. some those a this in from performance want impact just better just focus point I we inventories on quarter our payables as a performance? well our is look The the the as to million the cash cost on did
growth about about full from $XXX the changes. of a sales And driven represents sales growth year-over-year. $X.X the year, about million were $XXX of a For increase positive sales acquisition this and our which effect was from million, XX% and organic billion, about again, by
positive the quarter, overall of was a foreign the So, negative exchange fourth while it $XX in for about rates year, from million. impact currency had
that $X.XX. impact from is Not per share excluded, about basis the adjusted $X.XX quarter earnings or Our included for in a on an negative was exchange. $X.XX foreign
the have $X.XX. been deal made charges. discrete and what transit come consolidating we to acquisition normally and exchange earnings reported share and pension, adjustments We foreign due would worse So, discrete -- from businesses than occurred. certain cost, the per impacts restructuring $X.XX The what of tax programs of GE certain and litigation, or changing the
our full For $X.XX. and $X.XX XXXX, share year reported earnings EPS adjusted per was was
some that just in Our disclosures income the QX, normal give statement for call. we our of would
and including expenses $XX transaction million million $X operating For merger, income and about of the to Transportation to sales, certain GE litigation the tax X.X% restructuring cost. the million quarter, costs GST was of $XX or related related
XX.X% margin the about with talked items, quarter, items item adjusted Other million and to our items related and of I year operating our Excluding discrete consistent that operating full certain $X margin. operations. impacted the about was those FX
lower then of margin U.K. full XXXX to is and our now margin operating year the due initial some contracts tariffs, than work target our Our lower to adjusted through and continue about is we in XX% slightly guidance
or middle mainly to structure $XX and of the third some through $XX and $X reflecting -- year prior than actually, third SG&A in Other quarter Engineering expense in our -- the Our which quarter, quarter. was $XXX that than was $XX Interest quarter, came were million. GE have been less million late amortization $XX in the the settlement And did million. expense other is items million million, about place with interest for we and was This I for our is due $X was expense income related million consistent the put that would increase expense the acquisitions. to expense charges capital Transportation income $X periods. lower. from merger, previous mentioned lower which fourth are less was and than million. both Absent expense $XX.X million pension the million periods, about about costs
Our expense. income tax
greater for good than on with quarter revenue lot -- segment items Freight XX% look Our been A rate but the XX%. different segments Transit that had than and an flowing adjusted about was the it discrete growing you tax number, would a XX%. growing we have of When through greater at our basis, quarter, growth, revenue XX.X%. for
the for margins year was XX.X%. full operating adjusted Our
operations America the expected versus expansion Our increasing are quarter and international margin with Wabtec, in year. cash year. North XX-month next several our high $X.X the these quarter. in and restructuring of initiatives for U.K., a billion generation Backlog the was the Total backlog results into backlog drive near-record our impacting to third in for XX% fourth
report to look all product pleased orders new we that And our key report XXXX, all that traffic trends -- volumes ahead, and included recent are into in transit increasing. with market heading spending freight favorable new geographies. We recent lines major see new our we growing as
some just you XX. plan. I Okay. to to the our of XXXX, highlight talk page assumptions To key And point I for XXXX to want
growth about Assumptions FX to about economic our X% X%, include current global at of rate. a
current the We have assumed major rate. tariffs in
full are We results of months assuming Transportation guidance. -- in rail low-single-digit guidance GE assuming adjusted our our growth NAFTA. the traffic in XX We're about in
comparisons global an up for Wabtec on like-to-like numbers car Page be look help to effective expect an up we've about rate deliveries of versus apples-to-apples be XXXX at and different basis. deliveries a locomotive or tax XX%. XX, and to XXXX; number We car versus transit the that freight of done you to
accounting through a combined were is comparable will GET as throughout of that any months would since May. May pro period interim at would and related to come be adjustments items, if view and that if XX the you harmonization. Wabtec for top without numbers look what or page XX, forma So, the full be essentially side like in purchase the price This discussed our various in filings regulatory accounting we this
in $X.X about billion. billion have EBITDA of We about and from revenue about operations billion income of and combined $X.X $X.X
Turning XX our next deck. which of page the page, to is
this that numbers and what see for call adjusted these -- would we You PPA have would I recurring is amortization.
guiding income the guidance Using about in our of of diluted, combination factoring up share shares then into operations our some million that will billion. average the from the yes, would that by a EBITDA an of $X.X everybody -- eliminations to partial sales. GET weighted about do to outstanding We periods reducing a from and about billion. So, XXX intercompany billion, of about of about that million of impacts income shares And end year we're $X.X $X.X have $X.XX. to $X costs with revenue, earnings future accounting gives we billion $XXX of of operations operations about the $X.X range per for of us fully need
revenue on from and $XXX capitalized the page are up you get billion, $X.X purchase with guidance accounting we of adjustments current our We and incurred recognition would harmonization with about and costs, that to EBITDA a view $X.X of comparable factor estimates and of differences on the to associated be other numbers of inventory guidance transaction what GAAP about have would that of be how the income take some we Moving backlog XX, amortized. million. basis. We to adjusted some final just accounting and a they're costs one-time and this on a in operations price million, about impact revenue end
of shares, And we share, per million Our that capital schedules. basis, those a more $X.XX. about on just reconciliations for little with have you XXX of end for a take I case spending that organization's in and we that so want both in year. want again, a outstanding on and various to review to detail a -- up the and comparisons to average of dig million highlight weighted moment range budget with $XXX included $X earnings
billion; XXX from pro to of we billion, close, billion and basis, a $X $X.X $X.X of net giving On of to gross recap, excuse X.X EBITDA billion, $X.X to of leverage steady previous times. cash debt you billion did with for the increase So, CapEx, year maintaining billion revenue partial on basis $X.X like-to-like a see with XX%, $X.X Page you, or in ratio of me. us leverage leverage but billion billion, an just net the billion, of where and at $XXX adding the and are this basis debt compare the have reflecting estimates some of the $X.X to an would are ratio Clearly, costs Wabtec to billion ratios. a from terms by expected about about EBITDA XXXX to page you a impacted sheet costs $X.X year forma debt $X.X incur roughly generation we a deal partial XX% million, total about numbers with basis, margin -- these margin when the X.X. adjusted points on update $X.X an from the basis, and XX. about operations increasing of a that we On XX%. of debt, or pro $XXX to Income debt, our XXXX, that our from XX, other $X.X with our and of billion about given transaction year, forma half estimate increasing for billion. own second adjusted on
to operations estimates, expect cash from close of Our go we the at X.X X.X the by with leverage from end to XXXX. our to this calendar of current see a goals; year flow, cash
points to I of cash emphasize couple flow. with want this So, just a
cash We profile. free strong a have expect flow to
see come expect down. to leverage this We ratio
policy financial Our same. remains the
to investment-grade committed are our We ratings.
the turn go like company forward. the the investing of Ray. it that's to I'll also investment-grade And deck. in be over I'd will you part reconciliations and as we this point, a to But rating. delever we back to point to committed Again all later the at key are in strategy our We growth
