afternoon, Arun, everyone. Thanks, good and
our improvement operating costs by and conditions, capacity disciplined and our soft continued management adjusted profit, in improved of AGP, thereby delivered driving freight our the million income, quarter, or leverage, the while or revenue through increase driven higher year-over-year. volume face This $XXX in AGP, gross procurement benefited controlling quality was year-over-year market we significant productivity operating an initiatives XX.X% of and up of which in
of rates operating fast ocean enabled AGP NAST our the company total AGP, day monthly basis. business, has basis, and be compared and up Global August on elevated On up people are they and business both margins. in operating XX% embrace sequential in Within discipline XX% more while improved benefited both and adjusted And operating Forwarding, QX to a fit operating businesses and continued businesses forwarding X our in as all July, focused a per are to in largest to up was income margin of showing that our year, and XX% September. year-over-year last model our a our grow
in experiences As seasonally sequential From about conflict perspective. market demand volume volume of the and season East gross including forwarding several could the QX. due disruptions, forward, weaker capacity there and Coast that a quarter. a we dampen are their look from that Red fourth typical the Coast quarter ocean QX perspective, potential at the global ocean forward peak some of mentioned customers and for typically a the This decline ongoing profit is indications Michael trucking freight labor geopolitical the ports Gulf the concerns disruptions and the issues U.S. Sea to in pulled
July. declined early Additionally, since ocean rates have steadily
Given average the transactional to profit the flow in of to X our contractual takes business, volume impact mix of generally rates shipment. months changing our and to X per market ocean through
an negative our impact From to $X.X expense Transportation other European we rates planned operating per in expenses, September, our of and our began a restructuring Surface on this were year-over-year. in total continue to declining million the loss and profit charges business see standpoint, we down expect sale the in QX. shipment Consequently, excluding from
related were to expenses charges $XXX.X $X.X million workforce including million, personnel of QX reductions. restructuring
to results the charges increase optimization or current by up $XXX.X compensation in QX and partially productivity efforts. related expenses million incentive X.X%. and This driven financial year, personnel in by offset was restructuring Excluding $XX our were continued was prior cost our million, and an improved
X.X% headcount QX average down Our to QX compared was last year.
headcount will expect QX. restructuring, a in to This be $X.X includes of billion the expectation midpoint We to continue of be below end billion the relatively our $X.X XXXX flat excluding expenses, compared to that QX an personnel to range.
or to loss $XXX.X the on charges. planned business Moving million were and SG&A. Transportation $XX expenses million, including $X.X sale of QX of other a our million Surface EST European restructuring
we these, reduction as eliminate The $XXX $XX.X million, across XX.X% expense Excluding was down year-over-year. categories or nonvalue-added expenses SG&A million several to spend. expense continued were
which $XX sale $XXX planned toward now full to expenses million. restructuring the of end SG&A the the we We $XXX of in expect SG&A be and charges amortization, million low excluding million to expect for million guidance include to and XXXX. the still year, to expenses range EST depreciation be of $XXX
EST the rate of restructuring tax effective excluding was Our in charges, sale XX.X%. and QX, planned
XXXX year-to-date in now a in to effective XX% XX%. expect of full we XX.X% range and results be our year tax of tax rate the to rate This
bringing in million. compared Our We guidance to expenditures to QX total $XX million of be expenditures to capital now were expect million. the million $XX.X XXXX our the of toward to $XX.X $XX $XX lower provided end previously to million, capital year-to-date $XX million
sheet of committed liquidity, billion funding comprised $XXX balance we approximately cash million and a $X of a perspective, of From credit of QX ended under million. $XXX our facilities balance with
in through continues enables industry and freight a prolonged us capabilities strength investing financial a improving it Our to to our as key even differentiator be recession. our continue
the a market tightens. stronger As result, emerge expect we when to
to debt X.XXx, performance the end as from the at with on debt EBITDA EBITDA of how QX. resulting XX-month financial balance. billion, our focus as and decrease business and QX run the on the in of was results end the a expansion primarily at to net $X.XX at driven was QX trailing a by This company. in we margin testament increase leverage net our balance X.Xx our end the of down debt QX Our well of was our the are execution discipline Overall, a our and
I'm forward that, our you upcoming of Dave look final back we're about to his comments. many where and for meeting at Investor I With I'll call Day. the turn to optimistic going,
