joining We Bill. you, of staying And our you healthy everyone that Thank for call and this there. morning. hope thanks out to is all safe
innovation, of other constraints at that from crisis With jurisdictions implemented our other their Carriage our to unprecedented response restrictions over The high the be had the managing teams caring coronavirus and subsequent industry business passion, family to our work has center never in families, Houston were and times, across stay in for our the demonstrated us and have team. the these the their were mid-March From gathering during I the partners the been weeks performance advent country, more part Carriage and placed a that skill history. of entire been proud of home clients upon the our in past states the XX support remarkable. and and
these and begins the at ends and time XX been position other more executive their join the the entrepreneurial At Unlike of everyone in I initiative has past in performance talent work rest conviction company. the power over history best in leadership through and every for the individual high our in people thanking evident. with weeks. passion our Carriage, passion team culture the Carriage and a for we dedication any that have belief of having teamwork our And of
Bay until on Now, where in deliver distancing on when California, Area a the home implemented results other to the were the the solid pace March stay be and we first most from middle activity. to began a as in form averages business operational restrictions results. to lower We at to the and first we of negative The quarter have and cemetery presence restricted of states contract were came reduction the significant spread large impact pre-need funerals of to hosting across in from funeral sales a our country. social
across their amount to that impacted of As latter moved conditions, teams country our serve as operating operating we to continue client times. Bill negatively were of families and all in margin quickly our local during The these of March costs their performance the adjust short to decline in mentioned, unable to communities in adjust time. part to and the our these unprecedented
increased to Total XXX fell million. per points $X.XX. X.X% million. quarter, first consolidated declined decreased points consolidated EBITDA adjusted field Adjusted margin to XX.X%. XX.X% to Adjusted Total basis million. basis $XX.X increased to $XX.X the EBITDA XX to X.X% EBITDA For XX.X%. $XX.X earnings margin EBITDA And X.X% field increased revenue share to
flow the cash free $XX.X million adjusted Importantly, quarter. XX.X% increased in to
to Additionally, we require name done the out our that and in was by for goodwill, million is trade this impairments. goodwill charge precipitated happy get took This we take old the way. decline price to existing impairments to quarter, related $XX.X of stock goodwill and will impairment. this in We're the
result high tremendous presented continue power business, operating fuel and of faced the the performance our to our its managing belief performance and April, our with to Carriage partners local crisis. when strength portfolio The and leadership in decentralized each operating In across of testament the in innovation demonstrated challenges commitment model of communities the a their right serve their making. teams and decision is our and entire of our and and the the as financial a coronavirus and was
funeral the country in funeral was was revenue in New increase driven management Massachusetts Connecticut, to impact funeral in field XX.X% by store margin as the contract on funeral New of offset in our York, The teams each businesses April, revenue the as experienced discipline volume by contracts demonstrated from restrictions at in and Orleans. such primarily attributed Jersey, that contract increased crisis, coronavirus XX% expense gathering to per declined business. basis New points store similar a April. increase Same in funeral areas XXX greatest located the local home X.X% decrease average as Same
curtailed normal to or other Same property store some as declined due decline local of million orders revenue our distancing pre-need sales primarily and home state XX.X%, in orders cemetery $X.X the sales activity. social
Our to cemetery pre-need innovative businesses throughout found led across performance which our customers, sales improve ways interact our month. counselors new with the managers and the to sales
inability back in Additionally, view decline the April Rolling the the continue holiday the in of we welcome park Hills Richmond, cause early for the client see in sale into opportunity last April families April. traditional compared as as at pre-need sales Ming property We to rather celebrate pre-need XX% the those decline year. deferred as our in than our the Ching loss revenue as cemetery to to was we sales significant property recapture California rest of through Memorial to in
incentive corporate The the consolidated board. in acquisition and same-store and for our lower driven salaries reductions adjusted Overhead in portfolio overhead leadership team a X.X% expenses lower XXX of month margins our non-essential expense reductions in EBITDA corporate for and were result improvement announced were of reduction expenses. funeral previously margin and point last and compensation, executive consolidated our in lower improved by the EBITDA performance growth of adjusted basis March year versus
items overhead progresses. the as the corporate year review expense We will continue to
the points and four EBITDA made of no acquisition During Acquisition while to quarter, of declined end the XX%, last funeral the by was cemetery as the XXXX, acquisition had quarter first to was we EBITDA our basis inclusion or year. for EBITDA was acquired funeral in $X.X we EBITDA those XXX our first cemetery $XXX,XXX our at driven margin our field integrate cemeteries million field acquisition as margin We acquisitions continue portfolio the businesses. XX.X%. XX.X% of up four
to momentum our see acquisition and great portfolio. In in April, improvements continue we
field first the year. margin month home EBITDA saw three Our for was funeral while XX.X%, EBITDA we field to to $XXX,XXX acquisition the acquired one field that XX.X% months compared and cemetery margin improved improved of the for $XXX,XXX our
we these the As acquisitions. four integration the each place leadership new of And at Bill our also of we’re of said, excited and with are the rapidly about pace have these cemetery improving pleased of acquisitions performance sales. we in
Accordingly, free growth $X.X the our an In an In April adjusted the flow estimated in flow to XX.X%. quarter, was four a free investors three million. be first years first margin, which metric The flow cash over adjusted increase Carriage is free new coming XX.X% have early metric a cash of of of will increase materially the of increased machine. value over innings track the million, cash free will free indication cash months introduced the important year $XX.X over for generating becoming we shareholder cash and an next flow flow grow the years. to
$XX expect adjusted estimate. our cash to small between $XX be free previous XXXX increase and We million, a for flow million from our
Our reduce our $XX capital to flow benefit decisions the free cash year. expenditures million to approximately will for from
with selected We to and CapEx XXXX. throughout along the invest continue focused on cemetery needed development rest inventory of will projects maintenance growth the in
Free savings benefit tax for security Act one year, longer the the laws to flow Cash XXXX, and the a compared pay changes approximately payroll filed we Act. a will from to to additionally federal due and will expectations. amended our the be benefit taxes million to receipt will of original $X first from in cash return. provision CARES passed refund income tax from in recently additionally required flow the to of previously no payment CARES CARES tax social
additional these and provide $X to the benefits equal about final will the cash we on updates the amount throughout year. million rest expect in of We savings
will program. coming We of first sell million, have intent which $X proceeds of weeks. in properties divestiture letter to approximate on previously continue currently with close the progress to also under our We of make seven announced the
and proceeds investors our additional throughout financial with total the to is expect to complete We minimal these year $XX The approximately operating divestiture impact overall transactions results. of to million.
of performance, from XX% operating benefits in and even strong over in lead divestitures, of to execution reduction of an our the free challenging improving XXXX, amount small increase CARES adjusted this operating capital flow environment. Taken will midst cash in Act and versus expenditures, together, the
early The reduction generation agreement made in debt we our of gross weeks as previously the leverage allow of announced. debt quarter, conditions March, coronavirus of as X.X additional to the to EBITDA XXXX our credit at to our we a on of times. the our net end crisis. business calls repayment our of This the X.X debt to our ratio X.XX our flow and times was be ratio balance given decision those also the schedule uncertain leverage higher continue defined basis, compliance cash us the than course maximum right hold end abilities during over will times. On ratio cash leverage at At of sheet,
effects brief our strong first leverage have for a performance of with our the a bank waiver our have a attain clear on our to crisis April of in the group quarter had seeing the increase worked pricing ratio After with and coronavirus view on Carriage, we small with facility.
We our on to year. expect remainder borrowing the for the of credit facility be our X.XX% costs
to million end. ratio to our expect ratio debt reduce the agreement under of the year leverage X.X under times expect our year below maximum by We the leverage throughout expect to $XXX credit end our remainder year, remain per to our and
Our growing shareholder will the allocation and cash multiple us free capital next value years. creation opportunities provide flow few over
cash months free improvements, continue of XX using of flow. and to will next repayment acquisitions integration completed be debt focus operational recently over on the Our
be lower have credit the markets June us we rates will continue senior next profile over our and notes improved next in year. to our in rate low, our refinance to months belief a to X.XX% will position put to Our interest at opportunity the unsecured notes stay when interest that call credit XX will continue healthy given of
be refinancing XXXX, final This sheet flow improved in last accelerated second refinancing XXXX, the free significant structure create Carriage. here near would of piece to capital the and adjusted of $X to interest million this expect for opportunity minimum as built share our we of strategy generate This savings. cash term began at be a a in earnings we of truly and in cash driver per balance growth half a will May will
we've margin, flow At program high by Carriage, always cash business. free allocation balanced high in believed our capital supported a
the pleased our decision dividend our a and We annually, increase be shows the which This we announce flow represents are in to to yield next dividends current our August. growing to by power. our X.X% declaration of will effective to board earnings free have cash $X.XX dividend $X.XX confidence directors for in
to As executed a fund beginning release positions three believe at focused we past detailed over prices have and recurring in significant annual income in repositioning growing equity we since our establishing the accelerating year of portfolio and the months, trust only we accelerated raise the of the a strategy at we on to be core our a portfolio Russia. in positions prices oil and Arabia our which rates and March face as discount saw production in historic collapse substantial to between aggressively cash Saudi their levels early to began intrinsic value in February, normalized economic in environment. fall in interest disagreements We press
XX% cash. spreads cash became the both over of of out portfolio volatility dislocated. and our index asset But into multiple part prices of quarter over and the liquidation of majority last have acquisitions highly with the We fourth volatile position benefited March cash deployed acquired weeks of we over moved a next from blown year. as two the the million were classes in completed on at became markets funds and Our Xth, trust we the also the across time $XX that credit
actively reoccurring and more is more return even The provide two, to repositioning downturns, better this is a portfolio continued economic that state value upside results for relative selectively more to significantly have as rotations We prepared strategy a of our as next throughout come. normal trust and with early fund May. making April well into and weather term generate portfolio over potential the income economy the to or year years company near as any
revenue increase and ability million over just earnings XX% perpetual will million $X.X care to provide from cemetery immediate annually from income EBITDA our in to Our the annual financial $XX lift portfolio trust account. recurring or increased our through to
term, recurring on matured longer a higher lead to trust revenue capital increased the the discretionary end portfolio EBITDA. potential fund year-to-date a amount for Through higher to and financial plus the cemetery Over XX% contract the Monday, of funeral will approximately tailwind provide and on pre-need values down income of basis. our significantly is this day gains for
provide our recognize metrics our earnings for of operating to and impact provide the over to was pleased also results up are not XXXX date number greater it performance reaffirmation but roughly right we to coronavirus this release most guidance felt the roughly We for updated two investors finally, for three to our an insight and that with scenario of couple our companies only XXXX right of are back the next important of best results, withdrawing push half provide the years And updated year, weeks our range XXXX. and a years. current we crisis, an a but and and in view to order performance to our a of
over $X.XX adjusted to and to range million assumes of operations $XXX to roughly to EBITDA, million to $XX consolidated and a of margin our funeral $XXX our in adjusted $XX EPS, consolidated diluted EBITDA total million normalization adjusted million $X.XX consolidated XXXX in cemetery XX% year. EBITD rest all-time updated gradual high Our and margin, of in the close XX% right revenue, the adjusted
compared from May, life remember in to gathering margin, consolidated crisis adjusted earlier expect are the flow industry. to increase want our of the by adjusted partners impact managing to an consolidated EBITDA, is ceremony though free of be demonstrates in to coronavirus free We the resiliency our cash and to adjusted even the earning important ritual adjusted cash and and of feedback that the of and April cash to know our the expectations, and EPS results and return early we flow negative and this It loved EBITDA ones. celebrate Carriage the of will field families revenue, which flow that encouraged power
previously increased to roughly for operating over and XXXX pleased confidence our in of XXXX. adjusted reaffirm months annual and performance has $X.XX only million ranges million teams $XXX of We're diluted revenue, milestones and also our XXXX past and company our in in announced over annual $XXX the XXXX. adjusted The our important few in EPS the achieve annual to consolidated ability EBITDA right
you can we exciting through time and see, unprecedented some we Again, us to are navigate thank very even quarter results reporting second you at here taking circumstances. Carriage, join for As soon. challenging our times today to forward and the all these as look
I'll over call that, for the with turn questions. And
