as update appreciate Thanks, fiscal expectations joining and on results highlights final forward. the color more everyone. key with then additional provide quarter's you drivers perspective us. follow our on I'll thoughts. an industry will Ryan, the morning, guidance, our and and close detail with financials and I'll with some on some well on good of XXXX conditions as Dave We begin going including
thank I'd like execution to Applied So consistent first, their acknowledge our work for and and hard team throughout XXXX. fiscal
standing the ahead company. commitments our as long-term now, part tremendous team, is capture during the our together we achieve commitment this and year, our of Applied It's customers to fully the across to and see one for we opportunity a be backdrop and While an honor the work and market faced strategy relentlessly end we serving mixed more the potential. our strengthening out industry to
than strategy on I'll Overall, strong more growth the We more cost strength weaker-than-expected double-digit as the out, positive delivered our fourth which end touch earnings played quarter. quarter control. demand execution, margin on This and offset and market was apparent momentum our team in shortly. of
in relates margin another it with performance, exceeding and margins margin the very gross end expanding margins time. first our to was encouraging XX% to it progress profile EBITDA to for XX% our As of year solid close
LIFO lower to provided years. normalizing the levels is LIFO record from important quarter, note prior expense it's in expense some in While benefit
when both margins nicely over well and adjustments in where year EBITDA cost EBITDA control XX% as mix inherent Additionally, benefits model margins several quarter. the and areas, quarter operating excluding Solutions in Engineered our expense, execution, across including We expense channel LIFO gross approached the and strong expanded from prior to variable levels our saw favorable margins as segment discipline.
full the nearly XX expanded points basis year, reaching approximately basis For we both by and new margins highs. points, by EBITDA margins gross XX
fiscal results ongoing gross industry increased improvement initiatives. which around XXX EBITDA these further strategy points. leverage evidence benefits ahead well of potential the provide position as continue our our is Overall, points margin the When have looking have evolution to while we differentiated margins XXXX, back basis when internal as margins current and began as various of implementing to our over strategy, initiatives we expanded nearly basis XXX and
term benefits continued an as well as increased organic scale from solutions technology ongoing analytics, account local mixed and we profile. long our This base our growth includes grow and as tailwinds investments, portfolio expand enhanced
saw broader organic demand in resulted easier The the X% third a As X.X% played the improved month out. quarter. increase data as June prior firm a compared to in comparison. recent additional market sales trends in quarter declining year the on some industrial an points, with trend year-over-year the consistent it end in in to to finish over we and the relates moderation sales daily months, This
where up power business, sales slightly to our and with equipment operations bifurcated of quarter, excess control year-over-year. fluid fluid our Solutions segment focused concentrated in were service MRO flow last our the OEMs with declines Sales work better power inventory. held trends component in related including continue areas center within primarily to sales through Engineered Similar of operations
As a XX% overall sales represent of approximately business. MRO-related our reminder,
fabricated fiscal mid-single-digit -- and sales machinery, utilities. quarter refining was That XXXX have within declines activity environment. said, compared and with fiscal maintenance more early positive business Muted the when paper, mixed down pulp This to through demand early and a quarter We sales MRO compared seasonal decent demand such in would trending billing trends were across our year mid-August to gauge slowness markets difficult end into trends summer conservatively first beverage, customers areas metals, growth plastics year-end. point We're metals, always XX and rubber are percent This last compared our the into food as XX offset still levels. was top is evident energy, by XX generated some following prior bifurcated last to to backdrop given uncertain transportation, out growth the normalization at sustained organic managed seeing spending in and and year-over-year looking mining. as quarter.
but July half to levels, including year compared progressed in as relatively last prior week. strong the a slow, month flat started improved the finishing Also, off finish back with the
election. from higher shutdowns. taking be first in for related U.S. schedules term. backdrop conservatively customers underlying the and up, rates see following is around September, the the we typically part important as approach better the gauge choppy, quarter demand project a to including and breaks near production normalize to in of It reflects will So and methodical activity shapes plant how is demand schedules which summer interest remains believe more which This resulting capital production spending uncertainty a managing upcoming impact latter
quarter, and our more larger power Sales trends below prior segment of year Year-over-year Service across our over Center an growth were fluid accounts the daily sequential partially patterns. sales. ongoing account local and modestly into through national steady within business, were held consumables our softer but by base seasonal normal the aftermarket MSS offset our across basis. declined Sales each Looking segments. in on relatively organic trends
Technical was more a about brake industrial represents during May our normalized sales, broader aligns utilization the held increases pace. half quarter, This relatively demand, U.S. at during service center in consistent June. and capacity steady which with production the readings the quarter as fix including activity
On stack as projects stack as defer capital That spending. MRO benchmarks, service top-tier and well segment market was industry grew more the hand, growth XX% tighten and highlights general on resilient to capital and center outperformance other believe as saw the relative maintenance during note broader It's and to cycles. mixed our a to expenses operations spending to which a compared the we period. prior customers show we indicators over profile and organically on on controls important operational continue growth more basis quarter X-year X-year basis multiyear a that said, X%
Overall, team a sales incremental approximately well also X% fiscal opportunities. EDI as quarter. greater from XXXX continues our as and over where including center cross-selling channels, position to our industry service capabilities seeing growth strong initiatives X% service during force and We're sales including fourth related digital increased benefit in through applied.com, ongoing and the
with emerging ongoing on the growth both to Engineered declined compared capture our segment, Combined across our new reflecting markets. an primarily local capabilities, and X.X% end to power we continue service sales operations. Solutions initiatives Within prior year, legacy opportunities daily across softness and organic our ongoing basis talent fluid
of Fluid estimate total is Power last sales mobile the weakness and consistent tied and sales segment sales. shipments OEM earlier in most systems. XX% off-highway or power represent mentioned of quarter, off-highway X% reduce mobile with about fluid to As components We of of
so quarter remain market off-highway muted to the excess or through work to another somewhat expect as for customers continue We OEM inventory.
skilled pace growing developing power trajectory equipment leading and labor is this The on electrification. across However, faster core market of and electronic growth integration, and growing accelerating given we trends innovation remain automation, ever, machinery fluid on mobile industry constructive trends to power, given constraints area tied management, connectivity capabilities and of in the sustainability. serving position focus the these required control than secular off-highway safety, our
integrate equipment teams engineer, design specialized from into and advanced thousands technologies top world-class of fluid features OEMs, strategies Our to aligned these suppliers. power are and support with their
various across end enhancing should power to hydraulic of and and filtration systems, efficiency cycle focused stationary units, on markets power fluid steady for given including investments updating demand remain develop the manufacturing This required systems addition, positively systems years life tailwinds. aging In continue in equipment coming hydraulic industrial-focused and includes presses.
During the decline segment headwind sales vertical also ongoing vertical, pressured signs X Solutions estimate negatively was nearly for by basis quarter, growth the we the points. the been organic has positive segment by we see quarters, approximately a developing. across sales technology on which Engineered segment impacted This but XXX
for an reminder, increasingly well electronics focus fluid commentary solutions and semiconductors equipment As vertical across fiscal and as pneumatic infrastructure for to to conveyance, year more production chains than and supply demand various control automation facilities. with as provides manufacturing a process begin center positive. our data this following Recent semiconductor a indicators and downturn in customers XXXX, related suggest fabrication could related recover extended from in
ongoing cooling, positioned and server also material solutions maintenance. benefit handling and various We're data across growth to including robotic for center infrastructure, from flow control technical providing
sector the Some operations of our technology are poised these trends benefit automation as in to well.
sequentially. declined During increased but the by sales mid-single-digit automation quarter, X% percent, organically
Northwest from given automation facility demand including footprint We're network could activity initiatives, recent also of capacity, and in May our high shipment acquisition verticals a automation a great high-profile up business expanding in signals billing our remains pick Pacific Grupo the position several and funnel in end-market soon. expansion Our and suggest XXXX Copar. greenfield
data control should our with We're we benefiting decarbonization processing. operations around this systems business new operations a for business fiscal growth customers' center center control our carbon Within many efforts, year. U.S., we continue directly sources. over including that see -- our XXXX, Solutions Consistent end industrial valve used benefiting low tied well utilization see control supporting increased market Engineered single-digit storage solutions segment, additional inspection capture We as are in prior the incremental and fuel megatrend to leading the of XX% from our sales pipeline growth also transition support alternative The developing in of data nice to which to control to tailwinds producing about our years. moving flow opportunities new see providing quarters, contribution and tied was from as flow percent across for process flow developing and solid liquid including a a forward. and operations, represent prior flow by growth sales energy benefit
encouraged as as a the nearly benefits also margin margins year year-over-year prior sales from initiatives. despite the over mix in stronger of The with partially performance growing performance X% nearly points EBITDA XXX reflects quarter the the and and decline. segment's basis well by pricing Solutions during quarter growing EBITDA Engineered up sales ongoing I'm margin the
additional seeing contributions modest Copar gross forward fully segment had Our positive margins, also as the Grupo they and moving to to acquisition impact look we onboard. a mix forward
Overall, and across as the margin we highlights expect to our performance the long Engineered the persist segment positive systems. to and Solutions scale tailwind segment's continue position term we grow
generation repayment. had another investments, we deployment $XXX we fiscal with record year and acquisitions, of dividends share debt cash in accelerated million buybacks, XXXX, capital Lastly, spent organic on over and
X over past years, towards in areas. these the deployed Over we billion $X capital
deployed period. During a X years, the vertical automation investments facility our $XX represents we operations. nearly distribution nearly which technology, prior X-year CapEx last and compared and XX% tied advanced our in technology technical in and This equipment increase supporting capabilities includes centers, the million expansions to to
customers our working in service remain while to effectively so. key investment both do which our inventory have and to ability will investments management of enhanced inventories sourcing, our optimizing to share system gain Our and capital
the X Both Solutions companies an position. bring to will announced bolt-on and year, today it capabilities we've regional and transactions enhance in As strong competitive aligned service our markets over supplier X past M&A, technical we Machine Stanley acquisitions relationships made the in Total relates and Proctor. knowledge including that
with fiscal Of and growth XXXX. our as power and the specialization a as and allocation service M&A network vertical. potential assembly focus and food fluid repair capital Northeast the beverage the in supplement in remains power, TMS fluid U.S. units power hydraulic rebuild Stanley priority will and well capabilities Proctor top services. of capabilities bring in design our across note, customer Upper and join center will local
service is capabilities. pipeline Our size with both on targets and enhancing segments our focused active technical and value-added varying across differentiation
on flow repurchases over We cash as balance million over repurchases share shares valuation fiscal authorization, were attractive acquiring our see margin with cash nearly and for remaining ongoing active shares for moving million in XXXX, also our and share growth $XX $XXX potential on in our sheet long-term on profile. our million well X enhanced potential as we considering forward, scope our XXX,XXX
XXXX and sheet fiscal our growing regardless ordinary required focused our generation component firepower cash and scale potential Overall, value on customer in our differentiated forward. M&A of and demands evolving opportunities. a when industry-wide to compelling to position remain near-term stakeholder dividend long-term and business This returns presents also will moving our related end and support accelerate of fragmentation, flexibility potential creation We balance significant investments markets. considering provides further industry
As returns-based transparent disciplined always, -- approach we will and our they allocation remain priorities on maintain capital develop. as be
We've a adjusted ongoing Dave, just EBITDA over than $X.X getting said, and X in EPS from annual of compounded in creation in see accomplished every our feel We moment significant increase and started support like our in stakeholder further journey. Lastly, years. which I'd suppliers like believe value coming take great and we a years. a together before success many shareholders. to compound in recent I free great it that and planning with thank ahead we're returns we ways, and organization a to the XX% EBITDA of your growth on greater more for, generation deal XX%, value even and past nearly will includes opportunity billion to respectively, customers, expansion commitment into our we This our of partners, to we're other business communities turn cash this capital. points, associates, to basis That meaningful XXX margin
turn So additional our I'll at results call detail this to time, outlook. Dave and for financial on the over
