Donnie. you, Thank
me with segments. then individual Let our summary review a company results our start of quick total and
operating was QX and and reduction Chicken, profit pound. periods saw were adjusted Chicken. both driven 'XX Pork sales a The in where down Beef for in year-over-year by Our fiscal in lower for and we profitability by decline in driven per price
we compared and continue While important than versus to year, adjusted right to continued profit believe our it the basis, improve direction. in operations, it's on sequential down to drive Challenges that more efficiencies substantially remain, improve and in note QX. headed to we're QX doubled but we was last a and EPS
lower segment This despite offset brands. revenue strength sales. modestly Now lower growth, starting which Foods. our the on highlights by volume In of Prepared to improved pricing driven down year-over-year was pricing. slightly AOI the individual with bacon Prepared was Foods, in lower by year-over-year, QX results,
easing costs and promotional and increased our Our inflation of the productivity for advertising lower and support onset start-up ongoing offset pricing, new initiatives marketing, facilities.
declined costs. seasonality, QX brand margin increased and support in to due AOI sequentially start-up
and representing $XXX XX% second QX However, segment past than grew this generated year-over-year. years by growth full nearly fiscal the year result of of AOI the in $XXX more X is AOI million, the highest 'XX million
with lower ongoing modestly Sales supply decline moving production. primarily a driven Chicken. customers' was offset balancing decrease QX in lower continued our year-over-year of versus our by Volume driven by the pricing, commodity in in Now on last sell-through and quarter, This partially XX% to highlights reflecting grew demand. goods declined this prices. focus production year, inventory, protein in finished by
productivity primarily this efficiencies. and quarter declined, profitability grain cost On and commodity basis, chicken input lower of lower sequential was lower due another a Year-over-year improvement. by but partially pricing, offset drove costs AOI enhancements operational to
fact, to by AOI QX, more increased than when we Chicken $XXX to million. In compare QX
pricing. to due higher offset primarily compressed revenue cattle in lower Operating Beef, spreads profit modestly was by higher throughput, with QX costs. In year-over-year head down, reflecting increased
'XX fiscal we we As as supply the all in have cattle year, to compression is underway. likely is until to headwinds, Beef face been spread of rebuilding tightening and to discussing don't continue abate expect herd including ongoing
pricing driven million million it improved Moving more than as Pork. down nearly loss, global than lower the year-over-year on along for but by $XX to $XX AOI X%, with primarily by operating Revenue softer demand. to due quarter importantly, was was performance. a modest more and by spreads increased sequentially
moving to excellence results capital continued 'XX fiscal as growing market noting our priorities, International ramp our operational posted that facilities. across worth Before new business and it's up on our markets growth We remain penetration and driven and our focused channels. by key we QX share solid
priorities via financial our priorities. primarily in investing to strength, our our We're dividend, and returning cash our strategy. the business to and position building capital capital allocation remain shareholders, financial of Now
with into $X.X As a fiscal We plan will we billion 'XX to Donnie prudent disciplined capital. said with roughly in and remain spend earlier, CapEx. came
ended with reacted ended working to over spend reducing driving leverage a was we which our cash liquidity our $X of Xx. cash saw, billion as and lower were impacting market up operating we year source year. by disciplined this We $XXX managing you flow.
We of profitability As conditions also just and net capital, million of the
unchanged management investment-grade net financial Xx sheet credit net or balance rating remains maintaining Our we to are of and returning as EBITDA. building at to strength, our debt approach leverage committed to below
resources shareholders year, dilution. remain offset long-term to share the to disciplined in via value. allocation maximize primarily million and ensuring that dividends repurchases, $XXX returned strategy, capital shareholder we to maintaining $XXX During deploy to million we a committed We
manage challenging a look Now better the we in outlook business let's and investors. how review how and manage a expectations at Fiscal these fiscal and we our like was times 'XX took XXXX. hard for we can communicate for year,
manage business fiscal cash and focus understand. Our profit and are for we our generation. want for 'XX dollar is the internal These investors to to what goals
a are terms percentage. we margin instead guidance as see, giving of So you'll for in this dollar year,
While there approximately 'XX. are line be with the sales we some overall expect top in line individual protein fiscal categories, within to uncertainties our
driver has on and the cash been segments. of stable a Moving Prepared operating solid flow. to Foods
revenue We support offset the changes expect brands in costs that new driven management volume for as 'XX and productivity, behavior. fiscal by risks and our from for disciplined in as to facilities growth, continue start-up our MAP by well consumer
our help To spending focused that dynamics, expectations highest 'XX.
On income million help in and navigate shifts in most adjusted and meet fiscal expect consumer we drive engagement To new and range categories, start-up ROI demand capacity, sentiment, on the in to effective of had potential $X and billion. we costs to in brands we Chicken. in these previously to the most value-added and the and demand. marketing, advertising invested Reflecting consumer the operating are is for $XXX efficient promotions any incur
expected. turnaround We in improvements anticipate net income. improvement pass-through adjusted again with costs next in QX profit and demonstrated between $XXX into in should along is operational We lower we to million this operational input $XXX as year, segment of generate sequential and million that, of Our QX. operating progressing and continue Chicken pricing,
our to operate our will in all hold is and influences as prepared how Multiple can. take and heifer fast Beef we outlook meaningful be are Now efficiently uncertain and outcomes of point, segment at on possible, will we to Beef retention them XXXX. this for as When for our segment. this
year, breakeven a market Our reflecting $XXX guidance is for of dynamics. for segment million this in uncertainty loss the to
see we on to where segment, the in business. Pork momentum our Now
As to last for to XXXX. we versus improve to continue we begin expect year improve fiscal to execute, roughly spreads and breakeven AOI
neither the outsized For businesses. any in the for the range of the area range or is of any words, the happen In high simultaneously portfolio. total of to each we a nor company, end we've be strength given low balanced outcomes all one other weakness expect segment, to anticipated remainder but the end by across
company total As 'XX we be result, to expect billion. a between and fiscal $X.X billion our AOI for $X.X
me on the To provide let some the understand help further shape year, the of quarterly phasing. context
more profitability Foods While costs and in costs half will QX next the typical fiscal and our rising 'XX. start-up back like year, we cattle and shift business of foresee in things seasonality impact to for Prepared QX generally
some and addition, In which volatility. are higher inflation, impacts the interest potential to could monitoring we rates consumer of create
million ended expense out Now CapEx to We We to rate billion. key be approximately and for annualizes our items. of to 'XX QX, year of year, expenditures the the a round XX%. to be $X.X environment. which tax P&L moderated interest anticipate pace with $XXX We in roughly million the $XXX in our in fiscal challenging
and $X.X the As for controls year $X.X we flow, be line with to we cash spending tight our and profitability billion in expect CapEx billion. on between maintain
free working range of we cash we're CapEx AOI, While outcomes manage capital to a flow are for so that year. the there possible for our expect positive and
making and remain on across difficult, the improvements current environment our In we long-term prospects. optimistic our are remains while summary, operating operations
win our demand portfolio the right We products mix the teams, to and marketplace. in have growing great for
call Now the for I'll instructions. Q&A back Sean to turn over
