with as $XX.X an and first which good the on mark-to-market I Mike, prior morning, our unrealized previous year consistent everyone. commodity of I'm in the reporting, loss an unrealized our unrealized loss million discuss for impact first $XX.X resulted hedges, the quarter. quarter to excluding compared adjustments be To of of million results, first in quarter Thanks,
subsidiaries as and equity gas method of natural the the these of acquisition the items renewable equity unconsolidated assets. the under with as well associated Excluding noncash before costs earnings and
for $X.XX improved the to per or income common or $XX.X per year year. quarter the EBITDA common was prior the million million X.X% first million $X.XX million compared first compared or for first $XX.X Net unit prior of Adjusted the unit $XX $X.X by income in of net to quarter. quarter
expenses. partially As Mike volumes in to management growth our that several earnings along inflationary the contributed offset base weather mentioned, was continued factors, by cooler higher margin including was driven our that customer on organic pressures by and solid improvement with in
Expected primarily the favorable X.X% the in were than which average XX% higher weather to due sold quarter and the than prior X% warmer cooler gallons prior the propane Retail quarter during base than first and gallons, temperatures year weather, million cooler year, normal XXX.X quarter. trends. were was first first customer
which in an operating the period degree impacted for that demand least increase critical the prior warmer our in November temperatures, experienced Midwest December October, in we particularly quarter, the With by nine The the overall compared although was and said, is seven of two in weeks heating to year negatively days in first heating were early of and last East during territories. the increase the experienced quarter days month degree in weeks December.
a XX historical U.S. higher demand domestic levels higher perspective, XX% first time end in quarter, outpaced barrels, of U.S. quarter propane commodity that were production continue of and million a the solid exports. which From for softening inventory build and at the year. December was the to At XX% levels the as averages than inventories than the XXXX propane during in
increase the trended during factors, As a the result propane and prices lower quarter. of inventories other in wholesale
the Mont prior first average quarter fiscal lower XXXX. first gallon, Belvieu XX% lower the than were was per wholesale and XX% the prices of which quarter Overall, bases $X.XX fourth than quarter for year
adjustments year, higher increased due the for mark-to-market sold and margins. the $XX.X million earlier, or to of total our the I the prior compared million quarter $XXX.X unit first Excluding of mentioned volumes to higher margin commodity hedges on gross X.X% impact primarily that
the of offset prices, margins to and costs management the Excluding the other pressures compared effective the first selling due period the for prior of price primarily helped unit per $X.XX inflationary of adjustments, gallon that expenses. impact year, delivery on to our a propane mark-to-market increased commodity declining impact during unrealized or X.X% quarter
expenses higher approximately business, vehicle million payroll lease combined during areas respect pressures the and and the costs of G&A prior expenses, accounts. primarily to X.X% increased operating and quarter to doubtful year, the $XX.X for due to most fuel acquisition-related first higher With across provisions higher including costs $X expenses, compared excluding of or $XXX.X million of benefit-related continued inflationary million and
first investments our provide our level X.X% interest rates model technology the interest a benchmark quarter borrowings leveraging Although on efficiencies higher which lower outstanding superior was while service. and or customer our drive in impact million continuing operating substantially for inflationary the revolver, $XX to increased due we for of average to offset pressures persist, remain focused of under by debt. to $XXX,XXX of Net expense
for split. flat Total between the the year capital mix $XX.X quarter was maintenance million and the to was evenly of and growth spending prior roughly
we associated on production quarter, started at with the first facility the During RNG Adirondack assets the Farms. construction
to to for RNG Total which months out than was fiscal as at not the capital build levels XX the historical expect expected spending year the Farms, higher quarter project production remainder Adirondack complete. on during of to is the facility our to significant, the XX capital spending we growth take we be
to acquired those remarks. underway facilities that Equilibrium, to from his efforts we complete growth expansion in there will Mike As capital be integrate mentioned additional upgrade and assets at the begin the earlier
our Turning to sheet. balance
of seasonal seasonal to our the facility needs. nature under revolving quarter capital help business, fund portion typically our working of the Given first credit a we borrow during our
revolver given borrowed our quarter, the we the commodity lower during seasonal million debt lower during first quarter $XX that prices impact the prior due to help was borrowings debt reduce as to during December capital, which working December XXXX our said, XXXX, efforts than With was build. the working borrowings on year. to year million significantly our our first than the prior lower fund the $XX.X of total under capital fiscal of Despite our outstanding
ended roughly At which X.XX the the first our of the end leverage and the we we was reflects fiscal was at quarter. ratio what XXXX of improvement from to trailing an period first the consolidated quarter, end year times, reported XX-month flat for prior where
level, be recent of somewhere the EBITDA leverage in acquisition As elevated a this remainder assets second result of and for to current the relative from expect of year on times the the the to Equilibrium, for year. range RNG the fiscal our level remainder the the depending of quarter we of the mid-four
requirement times. within be debt we of covenant However, to our well expect X.XX
capital which or of excess working end to time flows. February needs March the we late towards Our early expect generate heating typically the peak season, cash frame, after
focused We excess opportunities as will growth sheet cash balance expansion utilizing for fund continue to flows strategic the including growth on remain capital arise, strengthen to RNG to efforts.
than revolver to fund for our capital initiatives. heating We to ample working support well capacity season have needs under as our expansion more the strategic capital plans, ongoing and growth our borrowing as remaining
we great run the While long reach we temporarily a expect earnings Propane, metrics add proven have our improve leverage and balance of of recent record sheet. being their from will profile, potential. acquired assets to the track acquisition stewards to leverage debt-funded our the Suburban as our At rate
sheet short-term dry added balance weather-driven also softness, provides investments opportunistic a for powder provides conservative impact of demand initiatives. that our execution long-term management a believed long earnings for have and the you potential strategic protection but We
of three our course we business. the of invest have the in the reduced the growth total last years, to by while $XXX all Over million, continuing nearly debt
also the focus we we of long-term goals, balance strong sheet. on will maintaining on a our focused execution stay As to continue strategic
Back you, Mike. to
