everyone. morning, good and Marc, Thanks,
System million as saw the quarter, in Marc customer delivered challenging press As Business became we We're testing. the driven of previous and effectively these our cautious macroeconomic manage spending and to EPS release our than leveraging related we across related in the the Approximately our in more base Adjusted you lower driven China, core just second globally, business by conditions.
In quarter. in lower environment $XX.X PPI in and revenue. which core revenue to our by EPS. was XXXX core the $XXX revenue, $X.XX activity change was of and quarter included organic guidance; million we in X% our of $X.XX FX over and lower just this XXXX $X.XX $XX had Revenue the the of the economic remainder in particularly delivered was in lower incorporated adjusted million was of X/X previous driven $X.XX we to was by billion by incorporated the in than quarter growth, $XXX outlined, revenue biotech. guidance; was this more
in aggressively both offset year our our the the QX the of impact using full this manage us actively PPI $XX revenue. we're to outlook, we're lower-than-expected base. quarter Business revenue enabled and core lower the that In the System million the of managing This business. to in cost highlights Given assumed profit
me now with more Let our you with on our provide earnings beginning performance, results. details some
EPS mentioned, $X.XX. of adjusted EPS the we delivered in quarter I was As in QX. $X.XX GAAP
revenue reported The lower and X X% organic revenue was slight reported year-over-year. line, On a acquisitions top lower of exchange. contribution headwind revenue, our components from foreign QX the from percentage X% a points included
in earlier, core percentage organic quarter X over the mentioned just growth I was As points. revenue
have revenue. in been vaccines quarter. organic therapies runoff and core that in growth includes X% the revenue the impact, COVID-XX context, Without runoff our growth would For
quarter, geography. our teens.
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and lower initiated the Given Business macro in actions, this $XXX additional significantly cost PPI System as than more the change environment, planned. using of we're We've to we points the in see XXX year. initially drive productivity year million came in I began QX adjusted earlier, mentioned already XX%, last this company QX. margin quarter basis than in at to benefit the gross Total
quarter, margin drivers due was margin. those operating for to gross the in the the change as adjusted For same our
details Total our an basis to Moving on P&L. revenue $XXX QX of points a XX.X% the of in R&D as percent was quarter investments reflecting revenue, million SG&A was ongoing the of manufacturing X.X% quarter. was improvement high-impact in of over the XX innovation. QX, in Adjusted our the R&D year. in last expense
Looking at $XXX deployment. capital our quarter, expense our is million $XX for mainly QX results below which was net the the to interest last higher year, million, due than line
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billion million cash from capital operations cash Turning balance $X.X sheet. the was net flow free flow flow expenditures. Year-to-date cash after $XXX $X.X of to was and billion. Year-to-date investing
CorEvitas the announced repaid billion we with notes the the $XX million billion million. the quarter through We capital quarter, acquire $XXX billion quarter and total debt. and cash approximately of $XXX of During definitive after $X.X returned in agreement senior we of for ended $X to end, dividends.
Shortly
end the gross EBITDA and XX.X%, the basis.
Concluding adjusted the at on debt reflecting on strong total a performance, my ROIC company adjusted X.Xx was quarter that investment of we're ratio leverage company. across debt was X.Xx the comments net generating on Our to our returns
performance I'll profile couple higher by with the a revenue our segments, of four some varies start prior was Now on color scale our provide and that segment, revenue comments. business of margin let of pandemic-related me year. the in The framing and
skew segment does reported some and of that margins. the growth So rates
realization to strong across inflation. to address pricing execute continue all We higher segments
Life also year Science details, driven prior and in revenue on This pandemic-related the with the declined ago lower basis a quarter than XX% extent earlier. to in in the year points starting was that year revenue versus reported operating lesser Life quarter. XX.X%, segment down macro to margin Moving QX the Solutions. XX% and I XXX income and the prior the QX Science Solutions this organic decreased the quarter. XX% in was segment moderation by operating segment adjusted versus adjusted was revenue described factors
delivered strong income segment, the volume is was this business. in we XX%. Instruments delivered in in productivity, mix.
In In segment operating The we by strong points strong the electron which investments margin productivity the QX year-over-year. strategic revenue microscopy this mix, basis up and than by and adjusted was Analytical organic offset had unfavorable that quarter adjusted quarter, and was very QX increased growth FX. During strong XXX XX.X%, partially XX% and and offset was growth volume the the segment led very reported more X% by increased operating quarter,
pandemic-related the QX In is operating quarter. increased quarter.
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organic Laboratory strong Services QX and of volume the and testing reported investments.
And quarter, mix, X%. segment, and partially favorable increased is X% revenue growth which During productivity finally, we COVID-XX by Products delivered Biopharma the and impact was business in very strategic also offset lower
strong and in the adjusted During is operating higher in was delivered FX offset XX.X%, research segment by We businesses. increased the QX clinical and by strategic operating pharma investments. revenue adjusted quarter, services growth income XXXX. XX% margin QX, the XXX and very which in organic points segment productivity led basis this than was QX partially
turn and to both revising me reflect we're navigate taking offsetting Let macroeconomic to is $XX.X now guidance, in with the Revenue now these to and as actions be billion the environment growth X% expected to more the Marc conditions. expected that for our range outlined, billion, of $XX.XX. is to year core guidance and Adjusted challenging the XXXX organic full $XX.XX we're to be in X%. now of the in revenue EPS to range of $XX XXXX range
range of $XX.X core the modeling our within current estimates EPS growth X% likely purposes, revenue up adjusted revenue, to of For for end organic of is where to rounding and we're $XX.XX. billion up that year
details change in Let me provide the guidance, additional you behind some starting revenue. with
$XXX Our a to growth of reflects organic for X%, assumes it X% lower revenue million change revised the revenue. also to from guidance assumptions a testing X% in and core range
at by organic would driven beginning factors: in year. had core positive of our activity and base that level we reduction that spending revenue the continue across saw the the economy. that economic the remainder QX rest change the a cautious through will assumption of the China continue Chinese momentum this year.
In to We customer momentum year, we throughout the of in China, previously relation more the is saw of assumed the Our in an in assumed X
to growth, that swing core assume in end customers in However, confined the the and remainder growth activity slowed, to now to previously full the year, be extent in progressed, industry given spending. the of core to that context, in markets; revenue organic organic dynamic their the growth deliver revenue the now the And X% in appropriate this year. was the would as the end companies range through somewhat for for of our in organic then navigate that could impact it's to year. of the across Marc versus is budget year X% market this in to resulting something as spending quarter. most began expect traction X% QX in year with macro, conditions. with to this gets patterns of China for down we than remains we X% for approximately would be changes for Should for X%. year. in our XXXX, weaker growth for round commercial And broadly, end assuming to of assume core mentioned, the also the the the flush later our percentage in cautious as about And assumed the We stimulating think condition business factor could if core then of challenging an if remainder round previously the revenue assumed appropriate X economy, X% year.
With And stronger, uncertain we're cautious year. a growth.
When at continue This X% be that normal, from the think outcomes to is largest economic reduction regards market points I cautious of to it dynamics customer team, spending China range the more the spending the X% with customer markets that upside for up and execution QX. the the think became quarter that macro in will the We the second lessen year.
With activity significantly place macro less it's not more these the strong our segments progressed, were to successfully
now on to moving So profitability.
base. P&L. the active cost mentioned lower to revenue PPI our in System management limit I impact the We using of $XXX earlier, cost the we're of actions demonstrates As to Business put our expected of aggressively place the additional business. on manage This the million
be a pull-through XX% the flows XX.X% of profitability updated the now view the XX.X% in to to through lower range to line, terms expect to and on of the it the bottom the factoring margin reduced high how As this and in FX, is to income adjusted we result, our operating expected year. for in of revenue be
So that revenue prior through let more testing revenue. our million $XXX we'll guidance. is $XXX This assuming of on and than the million guidance, $XXX of some point, XXXX me we additional testing million updated XXXX. provide in year deliver delivered details half the lower We're
expect than Within $XXX point of growth. we continue XXXX. is This delivered $XXX the organic of the revenue core, on revenue to point, percentage we Through X core revenue. in prior therapies-related the impact million $X.X year, and less vaccines vaccines half-year therapies million billion a and
Moving on FX. to
initiatives. a continue assume a of year-over-year FX terms will tailwind adjusted FX And to now that we of million. XX.X%, free $XXX for EPS, of year. which expect and net We revenue driven approximately to billion we $X.X in million. to then be to billion, be headwind $X.XX, for XX% continue be now be net The by growth flow is has EPS. that Below interest to $X.XX will our assumption rate acquisition it $X.X the higher revenue the performing adjusted We're improved approximately XXXX our the our capital prior guidance.
The tax year expecting expenditures guidance than approximately planning our previous $XXX $XXX $X.XX for now of assume adjusted well, we to expect versus is to tax the and reported in approximately be expect we will continue line, million Binding and to expense Site contribute year cash will to
were capital which of In our already January. share includes billion buybacks completed guidance $X in terms deployment, of
any for get an CorEvitas. the through in that capital of over When We actual a We've divestitures. will any for operational count acquisitions date million XX% future provide year of XXXX year approximately this increase we shareholders continue we'll dividends, diluted acquisition benefit average and acquisition, not that our not we'll of estimate does to any And million assume be clarity assume approximately XXX normal $XXX guidance potential that as is shares, XXXX. return impact included to in the share full on or more XXXX. our close convention,
up be conclude, our lower We're change to be Day, we've of said and in will environment near-term remains and environment, environment. in we to as given to strength the navigate as that's positioned growth does PPI the may So unchanged, recognize markets Business should macro the long-term that significant. the than leverage done. it's And productivity, our think fundamentals serve challenging, step the the our growth and System the well supporting Investor the more We of market appropriate guidance we them. near-term change what at position we the while normal, is end
Now me back to Raf. the over turn let call
