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Warehouse automation demand will remain soft in the fourth quarter as customers push new warehouse capacity and investments to the right.
warehouse automation to the riggtr -- delay orders (SPS)
Transcript
2022 Q3
31 Oct 22
Thanks to a strong third quarter, we now expect sales for overall PMC to be up double digits for the year, an upgrade from our outlook last quarter of up high single digits and we expect segment margin to expand both sequentially and year-over-year in the fourth quarter.
PMT up
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2022 Q3
31 Oct 22
We anticipate strong growth in building projects for the fourth quarter as our projects business has grown sequentially each quarter this year, an encouraging indicator of post-pandemic recovery.
For overall HBT, we still expect double-digit organic sales growth for the full year and increased volume leverage should allow for continued sequential segment margin improvement in the fourth quarter and healthy expansion for 2022 overall.
hbt guidance -- very good
Transcript
2022 Q3
31 Oct 22
Our full year expectations for Aerospace are slightly improved on a stronger third quarter, and we now expect full year organic sales to be up mid-single to high single digits year-over-year, with modest declines in segment margins as a result of OE mix
improved aerospace guidance despite military weakness
Transcript
2022 Q3
31 Oct 22
oth commercial aftermarket and commercial OE should see another quarter of double-digit sales growth year-over-year in 4Q as flight hours and build rates continue on their path to recovery. In defense, we view the third quarter as an inflection point, leading to sequential improvement in 4Q to close the year as demand remains strong and modest improvements in the supply chain will allow us to deliver greater volumes
aerospace q4 guidance
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2022 Q3
31 Oct 22
e're raising the low end of our organic growth range now at 6% to 7%,
raise the low end of ortganuc growth range
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2022 Q3
31 Oct 22
We now expect full year sales of $35.4 billion to $35.7 billion which represents a decrease of $100 million in the low end and $400 million on the high end from our prior guidance, incorporating greater foreign currency impact.
sales guidance cut due to currency
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2022 Q3
31 Oct 22
Safety and Productivity Solutions
sps
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2022 Q3
31 Oct 22
Performance Materials and Technologies
PMT
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2022 Q3
31 Oct 22
Building Solutions, the sales grew 13% as project volume increased despite ongoing part shortages.
building solut9ions (HBT)
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2022 Q3
31 Oct 22
Building Technologies
HBT very good
Transcript
2022 Q3
31 Oct 22
Commercial aftermarket demand remains robust with continued flight or recovery leading to increased payer shipment and repair and overhaul sales. Both air transport aftermarket and business and general aviation aftermarket sales grew over 20% organically in the quarter. Commercial original equipment sales increased 30% year-over-year including approximately 50% growth in our air transport original equipment, driven by increased shipset deliveries to these customers. Defense volumes were down in the quarter, but we believe 2022 will be trough for this business as our elevated backlog position and an expected increase in defense spending support recovery in coming years. Aero segment margin expanded 40 basis points to 27.5% as our commercial excellence effort more than offset our cost inflation.
Aerospace
Transcript
2022 Q3
31 Oct 22
he performance was driven by double-digit organic growth in HBT, PMT and Aerospace. Demand trend remains strong with backlog near record levels.
However, ongoing supply chain constraints continue to temper overall volume growth. We did see modest sequential improvement in volume causing our positive backlog to decrease in SPS, HBT and PMT as we benefit from our reengineering effort to qualify alternative parts and our proactive partnering with distributors and alternative suppliers to ensure priority sourcing.
aerospace backlog up, but sps hbt, pmt down
Transcript
2022 Q3
31 Oct 22
Excluding the impact of orders,
"excluding the impact of lower Intelligrated orders"
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2022 Q3
31 Oct 22
Our backlog continues to be strong, up 9% year-over-year in the third quarter, led by aero, PMT and HBT as our demand profile remains robust. Orders were down 1% on a reported basis, but up 2% organically year-over-year with Aerospace and PMT orders up double digits signaling that these end markets continue to be resilient despite the risks of a broader economic recession.
backlog up 9, orders doewn 1% (up 2 organic)
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2022 Q3
31 Oct 22
While navigating a challenging backdrop, we delivered organic sales growth of 9% year-over-year or 10% excluding the impact of the wind down of operations in Russia led by strong double-digit growth in our Advanced Materials, commercial aerospace and building products businesses, a testament to our ongoing resiliency and our rigorous operating principles. We expanded segment margin by 60 basis points year-over-year to 21.8%, exceeding the high end of our guidance range by 60 basis points, with margin expansion in all four segments as we remain ahead of the inflation curve through continued commercial excellence.
earnings colour , mgn ahead,
Transcript
2022 Q3
31 Oct 22