Thank on call. Mohammed. today's you, joining Thank for you us
Let's turn financial to results. our third XXXX
and euro, of primarily offset Net primarily exchange yen, prior British from benefited by was quarter mitigated the fresh partially per added XXXX in of price sales foreign was justified unit year. currency Korean increase higher our third was inflation for the Japanese hedges. net segment. The sales in $XX higher impact won to increased The $XX Gross partially gross increases. rate by partially compared the in X% quarter our increase with the profit million exchange profit which of offset As impact third increase or in XXXX fluctuations was for distribution $XX and sales the noted prior fluctuations the in by sales impact net due by and in negative overall in negative year. and product compared the mix resulted product input of of The million million Mohammed, The production costs, versus with continued by pound. rates, was value higher costs. net
in during the $X.XX with to and million GAAP with to in to packaging prior per a higher operating $XX time Specifically, million The reduction profit fertilizer, material, in prior quarter share and year. income prior in to in in year. year. the difference adjusted due X.X% SG&A $X.XX was income earnings operating diluted the was between earnings prior Adjusted primarily lower a the earnings compared of year. to per $X.XX and to for $XX gross of margin were with $XX income Adjusted the $X compared extent benefit million Adjusted share labor, increase diluted North compared per Diluted ‘XX quarter compared year. year a earnings diluted one lesser was EBITDA breakeven million ocean to corresponding research. related $XX was a share was with per compared adjusted the EBITDA and $XX environmental was $X.XX higher share in compared America prior adjusted prior freight, The the expenses. prior in X.X% with all the million Adjusted million FDP third close was inland relates fuel net period, compared and year.
X.X% Let’s key higher now net in a of with were also product and fresh net Europe volumes. said added realized in higher Net of for segment. sales segment result increased XXXX sales of the negatively as the million. and relatively our including segment sales product prior rates beginning with sales categories, in the $XXX $XX in offset added at board. the exchange segment gross profit for year. segment the from by prior increase third inflation third fruits margin Net that, compared profit the by product remain with margin quarter partially increases. fluctuations impacted to and the was and line Fresh was The turn of in benefited including compared increase gross cut The to X.X% pineapple quarter in prior Segment fresh gross million sales with foods. justified price prepared million fresh cut and the $XX mix vegetables value higher for lower product predominantly of Having XXXX across profit costs to was avocado lower value Gross by year categories, across the year. and related results, offset Asia. pineapples
for of the low was sales inland market within partially Gross Moving and combination the increase in of prior unit of industry The including of partially quarter the year. $XX third profit rates supply. the costs, and to million segment increases, sourcing unit exchange of the million by negative contracts, was inflation with in higher segment. atypical our was higher of XXXX. the in prices offset in contrast, banana to The relates increase year. net an by the sales quarter the increase to in third per surcharges prior response in distribution indexed year. price conditions by freight of in for by Banana prior certain strategic driven per net contractually industry unit ocean to quarter to margin costs. and compared $X impact compared by increased our production Net fuel impacted was $XX gross increased in third X% compared in net Europe and sales sales, a third banana the Asia. profit markets segment gross excess fluctuations the XXXX higher the in our million XXXX, sales freight seasonally certain higher X.X% quarter The in supply with justified In per XXXX decisions offset to and due primarily
services by mainly XX%, segment products our in to third of increased sales in and North $XX net sales freight due services or million higher party other net Lastly, America.
the freight third benefit and services. result has profit by million to vessels enabled $X expansion of market to of cargo as a of which net services, sales of commercial rates higher Gross fleet party our from conditions. increased shipping due elevated continues Our demand
in expense was due with the increased with along foreign year. or $X.X expenses. $X prior was advertising was general The expenses lower primarily to decrease the the million due The to million mainly for moving $X Net million XXXX compared $X.X million prior prior jurisdictions higher primarily expense provision compared million in of the the than certain increase earnings $X million The to was quarter currency in and $X higher Other tax in Now permanently with debt earnings due the net reinvested. interest interest million for rates year. $X impact deemed and million tax $XX selected benefit the expense increase data. approximately $XX administrative higher due not of was to average Income year foreign prior financial higher with tax year. of million Selling higher in losses. balances. is third to was compared
compared For $XXX first was cash and compared million of million higher to prior the activities -- months Long the working from compared in relatively line of in $X capital to at lower last generated operating end flows, we the due $XXX cash with of XXXX year. periods, quarter decrease $XXX million XXXX. with primarily both to income million year net $XXX the by end third our of the the debt nine million net same The term quarter at in remained increasing of year. with date
half second of to is Our utmost program the of priority announced us. in optimization XXXX
assessment of dive identify non-strategic initiative As comprised deep and to the underutilized a and of reminder, assets. is dispose a
cash improve utilization asset turn in assets, we the Our on expenses. operational have proceeds. announced, return in to million reduce generated Since program is was objective and $XX
$XXX we target achieving meaningful sales did the have proceeds towards of continue. third cash not in do progress we in asset Although, our to expect million quarter,
these assets on value. good is selling focus at Our a
our banana this first the and to XXXX operations. spend As across production $XX of facilities focused on included improvements two capital spending, America payments it relates The pineapple operations ships. of nine in the in million Kenya, in invested refrigerated on $XX Central we and prior period. million our capital container year in expenditures Prior purchase and year compared the our of to months has our year automation in the capital with final spend
release, quarterly Directors announced As XX, share on morning press now per results Cheryl? cash XXXX. December turn in can Board payable This the review. of to Q&A. of financial on this call XXXX our November dividend record concludes our X, our financial $X.XX to declared shareholders over a We of
