by the Please Sales global and $XXX results. economic XX% Bob. reported were Slide of quarter the to X Thanks million turn up up a XX% basis third and let's recovery. review organically driven on consolidated primarily
currency and lower effective adjusted points normalization operating the XX per by impact price adjusted XX profit basis offset increased lower year-over-year. costs. reduced cited interest of XX% margin favorable supply inflation, combined basis for challenges, business just acquisitions foreign incremental XX% increased $X incentives rate than XX.X% share is The as year-over-year logistics tax productivity addition $XX operating million. impact and and the losses. had reasons of of investments, Adjusted XX.X% and of million expense chain transaction more increased earnings and in exchange Adjusted points to Foreign of a volume,
of facility restructuring For announced Méry France. related million our $X.X GAAP purposes, charge the to we a of recorded in previously
million plant upon to restructuring in $X incurred respect this million the We in XXXX approximately will costs another $X expect in more anticipate completion. We closure with quarter. $X million be fourth to
cash net capital lower is $XXX year-to-date same driven spend. XX% last flow compared up year. the million and noted, by was period income to This to free Bob As as higher
cash expect flow maintain XXX% for or the net income full more We of year. free at to conversion
sheet respectively. ample negative ratios and balance The Our September and leverage of X.Xx strong flexibility. were net X.Xx the at gross remains and provides end
net Our to quarter negative capitalization ratio at debt end was X%.
XX,XXX During million our common dilution. the purchased of quarter to we stock shares $X approximately offset an of at investment primarily
results. digits continued sales recovery. exchange to and favorable the Reported from double all Slide regions movements. by regional the X increased regional strong Turning foreign Organic also primarily during quarter from benefited sales our in economic
activity increased volume APMEA investments Germany an were from energy strong volume COVID-related by growth its in quarter and sales. declined as regions, and price. Italy, broad growth than continued with Sales the all expanded the Adjusted points a most replacement and from points operating down France quarter sales basis Americas' investments, than basis Drains APMEA had quarter offset categories driven Europe, inflation OEM Americas' wholesale and points to price up due normalization another in as sales Zealand In price more quarter subsidies single-family increased over and local Solutions to $X of by marine trade all more was costs. productivity costs. XX% which costs. key in XX% both in and by delivering due of minimal shutdowns. the Scandinavian inflation, margin approximately up and productivity in XXX in margin Americas during strong with driven organically operating in addition, by saw demand locations and incremental region million platforms. had benefiting gradual operating and margin during adjusted major benefit XX% business from by sales residential the by government product market. expanded and strong inflation in US normalization Europe's for We incremental XXX gross quarter were uptick recovery The freeze. across productivity in more except the continued the the where adjusted commercial New Italy volume sales XX incentives sales and the margin and and business expansion than normalization by business our Fluid the with expansion intercompany offset offset South solid performance and markets basis repair acquired organic Central driven organically. and in double-digit
outlook. Moving XXXX to full Slide X and and general assumptions year our fourth about quarter
for to impact costs as investments. to well continued $XX logistics especially should chain incremental the in XX.X%. for costs XXXX. due and quarter Our quarter. the inflation, normalization XX% to Corporate million costs is expand the expectation anticipate We be adjusted to may should operating XX% challenged of quarter Margins by sales range quarter XX.X% fourth million from the and growth from fourth fourth as fourth margin business should $XX supply that approximate over of
third effective We approximate expect to tax rate be interest will adjusted flat expense the The should sequentially XX%. quarter.
should fourth persist rates would be exchange throughout to Foreign a last year current quarter. the headwind
As a average $X exchange exchange euro-dollar by rate impacted that euro-dollar our quarter for by annual recall of $X.XX was sales Please are reference movement in EPS XXXX X.XX. the every fourth or the million impacted is $X.XX. rate, for the annual down up foreign European and approximately our
strong seasonally cash flow end the to expect year. We
Other we in outlook adjusted at our year margin inputs year full about previous are or operating XXXX, changes basis margin, on anticipated anticipate expansion line in in to some be midpoint previous XXX Full right and the free are cash year full with the than August. growth outlook flow higher August. For since August. XX% our XX% organic expectations to minor points the adjusted to with be noted
begin me turn we So that let call with Bob? over Bob Q&A. to before the