today joining CEO; for Johan Freeman, Chairman, brief with our our answering me Thank after questions Hentschke, us. our and these me here are Airton Financial and will Chief President join Chief in you remarks. Officer George and Operating Kroner, Officer;
responsibility our and Other This in It replay. copyrighted disclaim a of live without and any not available website authorized recording, November our XXXX. this will distribution on Xnd, through not have is the call we webcast used or website for any call. on replay, replay, than be permission. our taped will This be being and and telephone of remain transcription on call is may
caution forward-looking knowledge and be you that Before only. begin the assumptions of I we today statements our current are I making based and on some representative as future about to discuss are results, that will our
to assume forward-looking could estimated obligation or differ materially statements. no projected Actual results from and update results, we any
information the our you XX-K estimates, our that to XX, read some I for can affect of For ended urge March XXXX. the year factors on
environment, shipments, Such conditions, impacts of sources. consolidation and of uncertainties in structure limited political changes not market to, interest risks customer-mandated taxation, or timing and exchange include, and COVID-XX, changes and rates, industry but are government economic in and regulation weather rates evolution, and
unaudited allocations our non-GAAP useful subject include of I provide comments today is Finally, based have and information measures. may the on reclassification. you financial today some investors, effort In for to to information to an is
measures, please reconciliations to earnings including most refer press on GAAP current these comparable details measures, For to our release. the
the ended XXXX. for off and first well to to that not in fiscal fiscal carryover for quarter of good the June operations the in segment was quarter certain our higher XXth, performed XXXX, quarter income we our of tobacco operating origins from compared XXXX, did even we year have XXXX. a operations tobacco June Segment though large had start ended tobacco are XXth, the benefit Our year shipments of
leaf tobacco XX% at of and remain strong level tobacco for inventory Demand customers June of from XXth, inventory uncommitted our XXXX. was tobacco our
forecasting are increased compared fiscal year remain leaf and in tobacco believe to with XXXX year in production even XXXX leaf fiscal that We production, position. an tobacco increased the will undersupply
with plant-based growth expand We we and ingredients our progress continue strategy are making execute our integrate pleased and for capabilities on the are in platform, platform's products. to and ongoing invest to future to new existing we in the
June and demand ended customer platform due for expectations. inventory off were the below high XXth, the For XXXX, faced our the to levels, quarter our earnings platform
believe are inventories that building to of the chain to raw draw uncertainties. inventories supply many continuing customers material protect our after prior on against down We
in and duration more persistent challenges The extensive we been forecast. had inventory have than
the expansion the added capabilities our addition, of costs. In to platform's
While material write-downs in ended resulted a quarter drop sharp in June inventory prices XXXX. in certain XXth, new raw the
We down. our continue temporary inventory eventually challenges and work by excess the levels held are to customers expect inventory believe to
is to platform One our more products customers. ingredients our value-added expand our for main of of to investment objectives in portfolio current the plant-based include
that future we offer we current and making, believe are are a capabilities customers that partner We of investments the demand expanded from can we capitalize for and that the to range products and our due with are them. stronger well-positioned to on customers we
opportunities. regarding new are business existing customer business and engagements ongoing We by encouraged
per million or June highlights XXXX $X.XX was XXXX. for the diluted loss June Some the Net financial quarter ended $X.X share. XXth, quarter for XXth, ended
compared June million June and XXth, the $X.XX XXXX. detailed per ended XXth, ended Excluding today's by certain non-recurring and the items for quarter quarter press release, share to decreased XXXX net earnings in income diluted respectively $X.X
income quarter operating XXth, the ended down $X.X of XXXX, the $X.X was the million. for June for the segment was million, operations quarter XXXX Operating while million segment million June the compared for operating ended quarter segment ingredients XXth, by operations income to $XX XXXX. tobacco for income Segment ended decreased and up XXth, $X.X June
and the first in expenses administrative quarter to XXXX XXXX. were fiscal quarter year up $X of of first general, Selling, year million compared fiscal the
notably first fiscal the for double same XXXX. quarter cost, XXXX interest Our compared of ended more compared in year than costs in to June prices year XXXX leaf costs tobacco, XX, on high interest XXth, and rates remained Interest quarter green ended quarter of were June the to the fiscal XXXX. the higher quarter
relatively same payable quarter compared as increased were flat debt long-term tobacco prior overdrafts in were in and crops in green notes customer partially ended and higher by the to Our XXth, fund working quarter fiscal requirements larger the capital sum the obligations, offset June XXXX tobacco balances, of the prices to deposits. year
climate transparency sustainability recently organization, We We more change, water provide to the and as annual priority. our in completed to to continue and achievements to information goals our make regarding these global nonprofit around our forestry, on efforts risk areas submission CDP, our stakeholders.
emissions continue of to our our identification projects work We high-impact with to verify net establish throughout to footprint. zero third-parties the and to our pathway prioritization and
we At this take available are your time, to questions.
