The result was top-class profit leverage over 40% across our operations, well done by everyone.
Secondly, I would like to recognize David Farr, who stepped -- whose Board service concluded today after more than 20 years.
Adjusted earnings per share for the quarter was $0.97, ahead of our guidance midpoint of $0.89 and representing 9% growth versus the prior year.
Demand strengthened significantly with sales ahead of expectations at 2% underlying growth and March orders toward the high end of expectations at 4% underlying growth.
Within that growth number for the orders, significantly, Automation Solutions continues its steady improvement in both orders and sales, while Commercial & Residential Solutions continues to experience robust demand across all its lines of business and in all geographies with 11% sales growth and 21% orders growth for the trailing three months through March.
The cost reset benefits for the program that we implemented almost two years ago are being realized as planned, driving adjusted segment EBIT growth of 15% and 150 basis points of increased margin to 19.1%.
Additionally, cash flow continues to be strong, up 37% year-over-year with free cash flow up nearly 50%.
This represents 125% conversion of net earnings.
With the bulk of it behind us at this point, we initiated $21 million of additional restructuring in the quarter.
Operational performance was very strong in the quarter, adding $0.14 to adjusted EPS.
Of course, you'll recall that last year, share prices in general were all severely depressed with the onset of COVID and we closed last year's second quarter at $48 versus $90 this year.
And that headwind was within $0.01 of the guidance that we gave you in February.
Tax, currency and other miscellaneous items netted to about $0.04 of tailwind and a small impact from share repurchase.
So in total, again, adjusted earnings per share was $0.97 versus the guide of $0.89.
So as I mentioned, underlying sales growth exceeded expectations at 2% and it was 6% on a reported basis, including acquisitions and currency.
Gross profit slipped just a bit, 10 basis points, mainly due to business mix, given the growth in our Commercial & Residential Solutions business.
SG&A increased by 10 basis points, but the real story here is that excluding the stock compensation impact, operationally, it was down 220 basis points, indicative of the magnitude of the cost reduction activity and the flow-through of the benefits.
Adjusted EBIT margin was 18.2%, and our effective tax rate was within one point of last year.
Share count at 603 million.
And again, adjusted earnings per share at $0.97.
Adjusted segment EBIT increased 15% with the margin increasing 150 basis points to 19.1%, as I said earlier.
Again, stock comp was nearly a $100 million headwind.
Adjusted pre-tax earnings were down 20 basis points to 17.3%, again, as the impact of the mark-to-market on the stock comp [Indecipherable].
Operating cash flow was very strong, almost a record again at $807 million, up 37%.
Free cash flow at $707 million was up 48%, driven by the strong earnings and favorable balance sheet items.
Lastly, trade working capital was down to 16.8% of sales as the impact and the distortions from the COVID-related volume decline are beginning to normalize and as the businesses do a good job managing inventory as we return to growth.
We were at negative 5% on a trailing three-month basis, making good progress, and we're on the trajectory that we have been mapping out for several months.
Underlying sales were above expectations at negative 2%, and we're encouraged to see the continued sequential improvement in order rates underpinning the sales.
Margin in the platform increased 180 basis points of adjusted EBIT, 230 basis points at adjusted EBITDA driven by the cost reset savings.
Backlog is roughly flat sequentially at $5.3 billion, but it is up 14% year-to-date.
Orders continue to strengthen with the March underlying trailing three-month rate at 21%.
Strong growth in China, over 50%, was attributable to commercial HVAC and cold chain demand in addition to the favorable comp.
Europe grew 9% on the strength of continued demand for heat pumps and other energy-efficient sustainable solutions.
Margins improved 40 basis points at the adjusted EBIT level.
Commercial & Residential backlog has increased almost 60% year-to-date to about $1 billion.
This is about $400 million above what we would consider normal for this business.
We now expect underlying sales in the range of 3% to 6% overall, with Automation Solutions roughly flat and Commercial & Residential up in the 12% to 14% range.
We now expect 17.5% adjusted EBIT margin for the entire enterprise.
Cash flow was also projected higher at $3.3 billion operating cash flow and $2.7 billion of free cash flow, an increase of $150 million.
We're raising adjusted earnings per share guidance by $0.20 at the midpoint from $3.70 to $3.90, and we're tightening the range to plus or minus $0.05 from plus or minus $0.10.
The additional headwinds, you can see in the margin there on the right of the slide, mainly $50 million more of unfavorable price/cost, driven by continuing increases in raw materials costs and about another $20 million of stock comp expense versus what we estimated back in February.
On the plus side, we expect to retain about $10 million more in the year of the COVID-related savings than we previously estimated as basic activity like travel and everything that goes with it comes back in more slowly than we would have thought a couple of months ago.
So as I mentioned earlier, our underlying trailing three-month orders turned positive in the month of March at 4%.
It's driven by ongoing strength in Commercial & Residential Solutions, as you can see, at 21%, and continued significant improvement in Automation Solutions as our global markets recover.
We expect the Automation Solutions markets to accelerate through the second half and the Commercial & Residential HVAC demand will go up somewhat later in the year, but we would expect to see some of the other end markets, commercial, professional tools and such, recover to partially offset that tapering off in Commercial & Residential.
Based on what we see and the pace of the improvement in orders, for the second half, we see growth in the high single-digits range at about 7% to 11%, and that will drive the full year growth of 3% to 6%.
We expect net sales to be just a bit above $18 billion.
Again, increased momentum turning to -- on Chart 15 here.
So we see a return to growth in Q3, which is very positive after five down quarters in this business and continued demand in short cycle as well as the acceleration in the core process automation markets in the back half of the year, yielding a 4% to 8% range in the second half and a flat year guidance on sales.
If you turn to Page 16, I'll give you some color on what's going on in the world areas.
The site walk downs are up almost 50% year-over-year, also very encouraging.
And of course, the long-term service agreements are up almost 40% across the world in the business.
It's going to be a significant swing from a down 16% first half to a second half in that 10% midpoint.
Turning to Chart 17, some comments on Commercial & Residential.
However, the mid-cycle professional tools, cold chain businesses are accelerating, and that's what we see here in this very balanced perspective for this business throughout 2021, and I'm very encouraged by what we're seeing in the later cycle pieces.
And then turning to Page 18.
So with that, Pete, I'll turn it to Page 19, and we'll go to Q&A.

Summary:
Adjusted earnings per share for the quarter was $0.97, ahead of our guidance midpoint of $0.89 and representing 9% growth versus the prior year.
So in total, again, adjusted earnings per share was $0.97 versus the guide of $0.89.
So as I mentioned, underlying sales growth exceeded expectations at 2% and it was 6% on a reported basis, including acquisitions and currency.
And again, adjusted earnings per share at $0.97.
We're raising adjusted earnings per share guidance by $0.20 at the midpoint from $3.70 to $3.90, and we're tightening the range to plus or minus $0.05 from plus or minus $0.10.
We expect the Automation Solutions markets to accelerate through the second half and the Commercial & Residential HVAC demand will go up somewhat later in the year, but we would expect to see some of the other end markets, commercial, professional tools and such, recover to partially offset that tapering off in Commercial & Residential.
Based on what we see and the pace of the improvement in orders, for the second half, we see growth in the high single-digits range at about 7% to 11%, and that will drive the full year growth of 3% to 6%.
However, the mid-cycle professional tools, cold chain businesses are accelerating, and that's what we see here in this very balanced perspective for this business throughout 2021, and I'm very encouraged by what we're seeing in the later cycle pieces.