in results. the I first U.K., Americas our an our the Today, Steve. insights business divestiture business the share review our home provide from quarter and will anticipated thanks highlights update on some and of into and model care cleaning
out hearing our product color top. I significant the approximately of specialists. I each sales opportunities and With want of places, the been XXX find mantra impact you While brand bigger many to That on halls drive the product our that in full decision central with of unchanged, made of provide growth up borne Product employees, from care many to things, how talk focus XXXX we home red growth divesting our bigger and the Americas remains hard to thinking Multi-Use valuable came every pursue a revenue But and is driving WD-XX outlook. additional will Company. to are strength factor U.K. when wake guidance blue one we to company's WD-XX for places We us year see new those Few little the incredibly kind has fiscal about and and strategy. and impact. to This year for lines. morning grow first, mantra to yellow was the here brands long-standing cleaning the and historically WD-XX been at has a .
In want some about an our XXXX, things, XX% our Few approach focus. a almost in
met on the we criteria sell balance as sale quarter, to classify assets journey. the we sheet, our all this indicating on to for intend held progress This
suitors do not on with investment update have have I While anticipated a to on you I can make engaged discussions today transaction. with progress to potential the you we The detailed have the that behalf. on for continue we bank share continue divestiture, our
going no is to will that there the a over upcoming complete market, the divestiture certainties While brands on the these likely buyer we expectation are identifying of when our months.
throughout beyond business. strategy many as driving appropriate. the on further provide our Few drive impact and updates bigger being things, is our places product is operational to divestiture applied a will efficiencies We now process
We processes be Later lean onto mantra systems by system. collaboration. and global our our locations this fostering towards more and this year, greater, we streamlining X will into working ERP bringing new
on focused and project decision-making. to are along streamlined processes We like approaches with portfolio and solution-driven standardization management,
centers by areas of Lastly, productivity to establishing we've improvements key of global IT. move foundation established with more toward intent excellence along the
disparate and capacity collective focus We to growth once together are on on objectives. harness their our teams bringing skills working long-term to
business also have that recovery. on component short continues XX/XX/XX In performance. and in over be margin continue with align we critical will bigger midterm, about of impact few we model significant let's many time. the to strides gross the toward range. our look our we in quarter our can move at first and each a to tangible a to to continue gross think model make margin To a long-term beacon places, A things, impact model, business begin,
We target XX% quarter, have margin to XX% In was a of first range. compared our this to range progress at perform significant end for gross the XX.X% made top we and of the This gross driven year. gross improvement to and an of primarily by our mix last impacts, positively miscellaneous points, XXX which represents year-over-year. favorable impacted basis basis of by mix impact margin points sales XX.X% XXX other the margin,
Lower positive by costs margin higher and points. associated gross by basis impacted in costs, to this with offset the with Pacific Americas, our Asia by distribution freight trading Specialty EMEA impacts that associated costs margin margin continued and share which negatively warehousing were XXX gross Chemicals also We're partially also to primarily XX you positively to improve basis impacted blocks. margin in happy with quarter points. both These
points XX.X%. period Within same last to margin to compared XXX EMEA, improved year gross the basis
same period the XX.X%. declined to current basis XX% of we of margin margin by Asia margin latest. also and at year fiscal last factors, slightly XX.X%. trajectory, In the basis gross environment to macroeconomic Americas, XXXX over XXX cost Pacific our a points continue gross target XX improved by year points end Considering the the gross current achieving to the
we this fiscal of the of potentially brands, even of execution and supply those chain cleaning sooner by care may successful of the end following achieve goal However, cost year and timing cost XXXX if divesting the divestiture. home we depending in on are landscape, initiatives,
New to excluding recover fiscal and a impact senior held margin gross beyond, for who the is to leadership year, assets XX% will for margin the this incentivized focus recovery sale. central gross be of
a Now operating how for expenses. our to Cost areas: of XX% investments building employees, our primarily of turning percentage customers. to business. our expense adjustments expenses and define of to We doing range in XX% operating comprised X is noncash revenue we total we freight which of It business, is investments a business. at how of target our less as brand doing for our certain are efficient doing get as our measure products in business cost cost we of to
was This business higher quarter, the of of year. by costs, On to an to in doing business our professional $X.X due basis, our costs. expenses, doing period due to bankruptcy losses cost XX% freight increased and increased same a million or XX% compared cost increased employee-related service XX% higher customer absolute last dollar credit
In addition, make in the investments activities period-over-period. brand-building increased we
compared X.X% percentage quarter the a guidance. fiscal our year As was line the A&P but well is sales, X% in prior to year of in first investment our of with
cost We our managing XX%. business expect as time sales most over our XX% to of to is business of see grow, in factor cost towards in which of the doing important the improvements target long-term
Turning now EBITDA adjusted last first our quarter, EBITDA. XX% XX% was the compared period same the to in of In to adjusted margin year.
over by grew the costs. EBITDA absorbing even increased after X% prior nearly year, However,
time know As we the marketing, impacts. we've some if need that are will we and cleaning homecare divest to digest mentioned we previously, actively brands the successfully we that
target to However, move midterm term. range of to XX% to XX% the our adjusted medium believe margin back over we continue EBITDA we can
next the million EPS Operating results Now impact quarter. as was operating that event and an of subsequent previous year's quarter. the well income first improved let a X% first will which $XX.X income beginning in to our over increase us reported quarter, discuss as
$X.X assets of currently Excluding by for held been would have income sale, the operating the impacts million. reduced
per quarter first common year's $X.XX share the were which an $X.XX last the quarter. earnings over quarter year, compared first was of Diluted to X% for for the increase previous
by EPS have for the share. per impacts been reduced would diluted assets $X.XX the Excluding of held sale,
Our diluted average EPS weighted outstanding. reflects XX.X million shares
XXXX on update to and quarter a will subsequent and you both second Now noncash that fiscal impact EPS. I'd net year our income materially event like
tax in in uncertain unremitted toll In fiscal resulted for year the to Tax the calculating a reduction foreign and Cuts Act, in Jobs we earnings position XXXX. XXXX, related took an on earnings. specifically tax onetime This
fiscal released to adjustment The recent federal with will in expiration favorable a result mandatory of this the company net year of of of With release associated this tax federal in December, quarter. first statutes tax benefit income the benefit the tax. our tax $XX.X subsequent XXXX. for onetime unrecognized million, The toll benefit
adjustment back will out second non-GAAP the this a We quarter. as in
will Now this block the has which consolidates currency for on a this foreign We impacts the functional for EIMEA reminder that The the an changes our been currency sterling. annual reassess made brief affect year. U.K. long pound trade we've subsidiary, results basis. on
the shift currency. landscape look region and change required certain out actions are along taking we our we strategic our As the this in year EIMEA a functional beyond, in with operating within
A our sales influenced an inventory expenses euro-denominated chain key and in decision, dependence supply factors to our increase on few the within euro. and tied including a growing operational
changed the As subsidiary U.K. change pound Europe, from our prospectively. with year, we sterling the applied a being this beginning functional currency to result, of
change, U.S. specifically foreign As for dollar fiscal impact of during a that on utilizing year translation rates our net EIMEA is distinct result exchange constant estimate are current period sales, currency a the currency to from of methodology segment. XXXX we this
were The we using segments year estimation Pac Beginning constant to expect our Americas impacted methodology currency fiscal this. not Asia XXXX, revert to customary and by figures.
strategy. Now let's look our at allocation capital
we a asset-light all resilient balance sheet liquidity have margin contributors Our business strong taken improving to are our position. with actions model, while coupled and line maintaining top grow gross and to
balanced Maintaining priority remains allocation capital us. a disciplined for approach and a
which in with year asset-light between X% For sales our strategy. per CapEx is line the expect and we foreseeable future, maintenance of of X% fiscal
our at to priority earnings. be return continue and through greater dividends and regular We XX% to to dividends Annual than targeted capital are our buybacks. stockholders continue will of
dividend an approved Directors On December previous of over share. Board share, quarter's our quarterly reflecting per XX, $X.XX increase cash of $X.XX the a per of dividend of X%
million XX,XXX a returned approximately at quarter approximately first shares we of plan. share current In $X.X repurchased XXXX total, our total to share we the our under dividends. approximately cost million through repurchases quarter, stockholders and stock repurchase fiscal our $XX of first in the During of
Now let's to 'XX turn FY guidance.
As and we of for held financial cleaning currently the impact home year's pro brands this issued guidance sale. a forma classified the assets basis, a reminder, on excluding care as
exact this the and transaction core uncertain, timing remains While with we will the approach believe of the the of minimize clarity surrounding help investors the the business on provide transaction. direction noise
growth encourage first presentation, fiscal investors estimating our foreign I Net to a to XXXX year year XXXX is fiscal earnings concludes between million for forma after the net sales pro results quarter between translation are which and and XXXX adjusting review X% and for of view. $XXX million Therefore, pro we for guidance forma our projected unchanged, is with be $XXX currency. sales impacts XX%,
investment $X.XX X% is income is to based representing over of Operating $XXX million earnings the weighted pro forma be expected be provision and $X.XX, shares XX% outstanding. expected million, and per to for and estimated is around XX% results. be $XX XX%. of expected which XXXX between between be average diluted XX.X share to to The is tax projected be growth X% margin an is expected promotion on income between Gross to and between and to million XX%, around Advertising net sales. is
in be the assets held our approximately unsuccessful positively basis. for headwinds full other currently year divesting are and we affect over $X.XX XX% no In million view major events of in $XX to may This in unforeseen guidance EPS event, fiscal on a guidance impacted Unanticipated between range inflationary the XXXX. operating the million $X assumes results. the income net sales, XXXX by changes forma and sale, and represents of current economic pro in year diluted X% growth our environment. would This
That completes the financial overview.
I call the like Now to back to turn would Steve.
