Bryan, and good evening, you, everyone. Thank
and Before I priorities to strategic walk would like beyond. I executed we that XXXX our will financial through XXXX the of and results, in highlight profitability many during drive growth on some
was One of XXXX introductions. top priorities the new during our product
new are we our very are to technology decking expanded portfolio. decking and heat incorporating our across innovative offerings We have portfolio that mitigation a excited including innovative with product
who distributors a decking us Trex of also to We expand helping with able comprehensive portfolio now introduced our full greatly relationship our railing a offer be Trex solution. products. will
second to associated with half our of service revenue fluctuations to initiatives, XXXX, volatility experienced channel market the right us we which position minimize the margin inventory plants. fluctuations believe of production and continuous quarterly and strategy and we Production coupled historically volatility. the manufacturing and within timing significant times, revised gross efficiencies minimize now lead be channel destocking at reduce stocking inventory, our with by quarterly normal increased to generated level, improvement with avoid the In the to channel
Arkansas that production to our of in also schedule are Little with We QX pellet in pleased XXXX. Rock, capacity expansion is start on
the expenses are start-up us, existing will plant more most efficiencies and behind flexibility us our will I of be Bryan efficient information financial and provide concerning to once Arkansas As in initial facilities. discussion. the will increase my mentioned, our enable detailed plant new manufacturing
in and initiative enable the continue experience. as our We Trex enhance enhance and of The will us profitability. transformation market XXXX repair also beyond these the accelerated long-term outpace benefits remodel to our to well digital further consumer as to strategies
XXXX, note now XXXX of full basis on full Please XXXX. in are finish the continue quarter unless we quarter strategic results. and today year execute our I'd fourth And on year-over-year stronger-than-expected otherwise a to to a to all Bryan to the review a quarter key discussed fourth priorities. which year year mentioned, that comparisons like compared represented fourth XXXX our and stated, as
days substantial were inventory XXXX better-than-expected fourth Even And had reduction, of expectations, our approximately In entry-level for all-time quarter, decking ahead hand net $XX the from our which $XXX for near were demand demand channel sales and almost In inventory products. strong continued our what by inventories priced double sales stable of $XXX decreased by the decking, QX, and the despite we products lows. driven sales million. with a decrease sequentially on down compared are channel the premium forecasted. originally in channel XX% million, is million to
benefits of the down was result by XX.X% the lower administrative initiatives. XX.X% million innovation. invest year-over-year to XX.X%. basis points and net primarily sales, sales. of XX.X%, of $XX while continuous primarily from improvement we Gross our lower new general were to was is of incentive compensation, margin net expenses to XXX $XX million partially utilization, Selling, continue or product branding, or compared and decrease This offset in marketing decline related The
Net of of $XX million decrease or per XX% income $XX sales or was from net $XX to million $X.XX diluted delivered down of per diluted last share. or share, or XX% year. XX% of sales, a and $X.XX million net We XX% $XX compared million from EBITDA
of the Turning shift to share, our $X.XX our premium income for and $X.X totaled $X.X a of sales for strong Buy Net Net results. from our was billion, Program year million diluted demand full billion, compared per XXXX December due year cost increase $XXX XX% products. Early the the primarily EBITDA $XXX in compared margin attention or or margin growth. points representing to also due X% XX.X% continued XXXX to million to out which January up utilization XXX EBITDA to the programs, and basis improvement $XXX by in improved to to our million, XX.X%, year. $XXX from primarily XXXX. XX% $X.XX diluted And million was from share, expanded drive per prior to full
prepare of increased products cash $XXX million was decrease strategy, primarily new as The we a and was and season. to channel deliver $XXX new inventories inventory operating prepare execute result to the XXXX on our for XXXX decking compared million. our flow decking railing
our our through of repurchase in our with strategy allocation our shares long-term continued million XXXX to X.X outlook, and over stock. returned common million Consistent in confidence $XXX the outstanding shareholders capital of we
build-out the We Rock, expenditures invested in $XXX of XXXX, to also capital in million related Arkansas Little the primarily facility.
Rock for remains same. the Our outlook Little
expenditures this increase to cash million. are XXXX. the of expected our the Once is of will we a As reminder, project revenue million, in in CapEx invested $XXX result total annual of in to $XXX our which for have facility a historical already be significant completed, expected to to is capital flow beginning levels which approximately X% X% return free
is with Recycled phase in being plastic start-up and now at Arkansas processing employees trained. hired
in associated annualized official As the starting the third expect associated run onetime quarter $XX second a total the depreciation million target be with with the start-up costs that are approximately reminder, approximately and million million quarter at the to These at $X we XXXX, to start-up $X production in expected by XXXX. rates to of costs operations utilization point. ending to
at associated beginning annualized the the of same we is $XX onetime first costs lines start-up our the XXXX. the slated XXXX. $XX start-up of be for Also, beginning decking early expect in time, as mentioned of million Arkansas At appreciation last half approximately with to million time. quarter, And that
running We rates to expect be target end by operations the utilization XXXX. at these of
our guidance. Now XXXX to turning
the $X.XX $X.XX the expect year-over-year of representing net we a in to range to sales X% growth be billion year XXXX, to For full billion, of X%.
As are Buy January, is reminder, swing Program indications in early XXXX, to the positive. XXXX timing Early our means our full we which that program a of in and shifted
margin is exceed to expected XX%, with XXXX's year. consistent EBITDA Adjusted record
million Arkansas onetime transformation start-up costs of to approximately to million costs Excluding and in the transition costs, $XX related restructuring $XX aggregate. the digital railing
sales. expected be are expenses XX% SG&A to of approximately net
million to million. Our million, million in $XX expense $X of range the while to interest depreciation anticipated is $X be $XX to
capital approximately facility. expenditures continue We we Arkansas are of full to projected the XX% And XX%. tax as effective the rate approximately for of the are be projecting to million $XXX year an development
first compared Early the prior built This at levels of same into earlier, the year. XXXX. to Program with quarterly the to change our first inventory inventory Buy year, on Based include of strategy $XX channel XXXX in out highlighted the not XXXX quarter as sales quarter similar year, assumed but timing include as last million the will shifting remainder degree approximately will to the strategy sales of the will
we result, first are be million. a between revenues to the million As $XXX $XXX to guiding quarter XXXX
I turn back his closing With Bryan remarks. will call for to that, now the
