morning, David. Thanks, everyone. Good
I'll decreased turn from continuing QX sales, review with and net of results Let's Slide to start XX operations. a X%. which
fiscal decreased pet of the SKU to of American net X.X%, and of appliances, consumer within impact in $XX.X demand channels million primarily exchange, the favorable with small foreign Excluding our earnings into due Pet softness & decline The lower and rationalization sales in Care Personal businesses. was sales impact Home in certain some our the 'XX Global organic expectations line heading kitchen North decisions incorporated within and our made framework. into was Care we quarter the
increased million, expenses, along unfavorable $XX and inventory largely favorable brands. transaction margins fixed and investment and increased cost as due impact a profit to partially reduced project lower we improvement $XXX.X basis Operating volume. charges, from with Gross FX on in by actions, driven inventory-related XXX offset factoring cost in by million transaction and our X% and of strategic XX.X% advertising lower increased lower restructuring, efforts reinvest by reduction points, offset activities, and marketing expenses decreased gross spend cost optimization of spend
bonds. gross margins an million. was a interest million. was on by EBITDA, Operating $XX.X $XX.X expenses expense, higher of share per operating improved margin increased, $XX increase $XX GAAP Adjusted Adjusted driven income, improved lower and lower income by investment the previously income the EBITDA investment repurchase income, lower and by the million operating gross diluted I excluding earnings investment count XXX.X% gain driven and income million, higher million, net of share of recognized driven of $XX.X both improvement and by mentioned. primarily income, the
increased by shares Adjusted diluted per driven and to outstanding. by $X.XX the higher adjusted EPS reduction share, $X.XX in EBITDA
closing shares we shares first announced ASR with or market reduced X.X and our outstanding quarter, by the additional open previously our million repurchases. XX% During over
XX% current HHI is our discussed, lower closure transaction. David prior share As of than was the count the it to
of Cash $X.X $XX.X the million and expense XX. prior were higher outstanding during amortization Turning the from compensation $XXX,XXX. of $X.X share-based our than year. interest decreased to year. And QX Depreciation million million $XX.X debt of increased $X.X was $XX.X last million million due lower than lower separately, balance. by to operations quarter continuing taxes million Slide
restructuring-related million $X.X million were other year. strategic year. in adjustments nonrecurring million And expenditures and $XX.X million down towards payments last were from projects unusual last $XX.X transactions, Capital QX, cash versus $XX
finance had the We million leases outstanding balance billion, in million, Total sheet. flow available quarter-end of million and $XXX a million cash of $XX other million revolver. $XXX consisting notes and $X.X approximately Moving $X.X $XXX debt cash obligations. unsecured was investments balance on billion plus of now senior $XXX short-term and of to our
quarter, and free. we During of our net essentially million we repurchased the quarter bonds, ended outstanding the debt $XXX
of performance results. sales the which on XX. underlying Now let's Slide each get Global with decreased provide Reported net business on details to operational X.X%. Care, review unit drivers Pet is our start of the into I'll
foreign decreased organic Excluding X%. favorable currency, sales
to part digits, global global Aquatics compared business channel, foot remained our and toward sales value in the offset as last Animal trade American Companion year, due The seen was grew in and challenged single business. decline marketplace we North specialty Our lower channels. low double-digit pet consumers a by aquatics traffic within some down have sales to
while North have last Recall management line America adversely flow. These nearly quarter's from sales headwind, count on reduced to margins, by these and are exit turns that were impact a positive waste several item is year a active X/X. such a American North purposeful our by as perspective decision And nonstrategic the having cash impacted SKUs. top impact actions profit categories lower our and this activities
growth sales in which in Aquatics. sales and America, organic our in In food with North EMEA overall Companion strong offset the to in category, growth sales, than cat due of Sales especially the by Animal our declines increased more channels. dog sales e-commerce with were in declined, our in SKU Companion growth Animal exits the Animals. growth Aquatics with impact Companion offset lower dollar and pleased We and especially sales
new by new category innovation bring into a On launching is the campaign, to families are highlighting the Aquatics participants a enjoy together. Love hobby we Kid that front, can Aquatics Aquariums,
brick-and-mortar business Treat aggressively Tasty well continues growth. are under to and online, perform and accelerate Cat Good new line and Meowee expansion distribution brands Our to we 'n' the pursuing
also expanding new have secured Tasty year's our expanded into brand, treats, further our categories. successful We the and 'n' dog under building distribution also for reach last launch Good on
business lower comparison by SKUs investments and This primarily for of continued driven increase to where million. the reduction was on million. inventory, GPC a in $XX due EBITDA our $XX.X favorable delivered low-margin The EBITDA XX.X% focus partially the higher to offset favorable adjusted advertising the GPC of by cost last consecutive increased and of year's quarter over measures. increased cost is This third volumes, sales Adjusted to by $XX.X mix FX. million was exit
pet about feel remain the of positive animal cautious margin, rate. growth the support We and continue continue, within good GPC expect a in consumables made are at slower to channels, the albeit We business. we believe decisions to that primarily about profile healthier global the certain specialty categories, continuing have a margin we to higher but companion trends
fiscal continue year long-term target, efforts the top lower 'XX of to challenge the half our rationalization Aquatics first than of the SKU expect particularly We line have to growth our to and to the in impact due demand.
Moving than in the Slide primarily now on which recent Controls Net fall in continue growth were first by into and Orders retailer experienced sales our quarter, by increased we aided XX. category. Cleaning driven demand softness Garden, is where years. Home & season, to warm X.X% further offset sales the fall by category, the the consumer in
our invested by encouraged Spectracide, in growth in share, sales are the where market brand winning Shot where we saw recovering share. We is largest have and we our Hot brand,
seasonal focused annual ramp this quarter. and the for predominantly on consumer first which very starts later business, The is represents quarter preparation the portion of for and activity business, staging to up this a small
last ended inventory quarter. will a cautiously retailers levels compared for XXXX, exceeded second in typical than now manner and to building inventory season. they levels throughout with in orders continue inventory cautious We healthier believe in be in when the the to building season POS but season higher and the season are Retailers XXXX, with more inventory started our
product line liftings Cleaning, drive the but are recovered and expanded in pace Cleaning our at Rejuvenate this prior of quarters. and for a brand In we parts to not to in fiscal support in Demand line. has levels. 'XX, sales pre-COVID investing certain segment slower innovation brand top declined, growth than
in consumers excited updated about that and to product products. second shelf are and packaging our we believe strong the of efficacy positively later expect value be that design the react on quarter We will to and
for POS with XXXX. weather XXXX with line more but that in planning orders the much are with a season, We similar is retailer season to in than XXXX
collaborate we to with our our expectations. toward continue and lawn head as demand garden customers to will consumer We season key peak understand
products. new innovation with with retailers the Eclipse We Realm and line, pleased our One-Shot outlook the Cutter expanded are for our traction is Repel gaining Spectracide and
for our encouraged We innovations. by for are displays early orders off-shelf and new placement
into was material Rejuvenate Adjusted we improvement saw $X.X 'XX. EBITDA for that cost by by Garden increased The lawn behind in the at improved Labor and offset in EBITDA and costs adjusted higher partially carried the investments driven manufacturing for continue This efficiencies garden initiatives. million. advertising primarily and by & Home year increase was brand. and the fiscal the preparation peak levels raw ongoing season in
this retail anticipating We the and as to are a develops. competitive environment in Home are season Garden year & react ready
Personal to we'll Home is which decreased X.X%. sales Slide Finally, net turn & Care, XX. Reported
Excluding a a decrease sales EMEA, sales net small North year-over-year, driven APAC offset the lower in appliance at organic organic net but to regions. continued by quarters, decline kitchen sales decreased LatAm than with exchange, in X.X%. by foreign favorable category slower prior growth and was rate sales American market, The
Care from Sales strong growth low decline home appliance the line in sales growth. and year's posted in Personal in single-digit grew also strong after APAC with low top offset by single a in last performance. e-commerce EMEA digits Sales LatAm region sales,
declines, As North we to business, America appliances continuing exit expected, in challenging 'XX. due of in kitchen sales certain demand and the Tristar had and fiscal primarily SKUs our double-digit small PowerXL
had we higher-than-expected e-commerce. with sales strong Overall, in a season holiday
in of with a season, filed the this supply the for during bankruptcy, opportunities levels a and had year a work high our season also for top helping line to to ongoing kitchen through continue levels unique but healthier competitors when fill sales. X gap than closed creating our We inventory holiday ago. Retailers opportunity category holiday
demand toaster ovens. expect particularly to air do continue, in and soft fryers consumer we However,
particularly fiscal on for higher launch behind ONE invest plan continue has the been throughout region, [ point in Virtually price ], Remington the ONE in Remington capitalizing EMEA, Remington and effective we that our to 'XX. to program
This launch presented in off and and are New global annual designs, cutting-edge Good comes We Multi successful and industrial last received our of the proud Remington our Curl the products, and Straight event to back Groomer. & Design product X is global year. ONE York innovative Dry of & of Style, graphic November of the award extremely in by award
Remington Shaver also the Overall named media Our Bald Shaver gaining attention, Head by Head is Pro Balder and Magazine. GQ recently Electric Best
promotional Adjusted driven X.X% margin adjusted from higher The EBITDA year, doubled than the by reduced EBITDA lower X.X% of of and $XX.X initiatives. investments focus inventory-related doubled inventory to volume, million. rates. prior on the foreign and more continued in events cost expenses, was our low-margin increased and our lower of benefit the partially offset exchange impact improvement unfavorable by brand-focused cost This
half to the expect year second year. continue we sales the first softness growth half for to full be return in line forward, the and to Looking with HPC a of top down
in and expect in challenging normalizes. and soft We the continued toaster air North consumer oven demand, environment a particularly expect competitive as America demand fryer categories
turn Let's Slide our and XXXX. XX to for expectations
are reiterating low people. in EBITDA, We income, brands lower driven decline driven grow and our investment from demand, as in the HPC. is category by cost Adjusted consumer sales the inventory lower compared to excluding expected net investment digits, expectation within kitchen single for appliance last in digits, our single to small particularly by our primarily offset year, high to
Home in We remain competition some fierce. is Care Personal pricing expected also expect to & as pressure
to the year. phasing Home to in pronounced we the the be & expect more pressure demand continue half From Care first perspective, a the in segment Personal of
year, half. for particularly Garden impact along HPC the in will rationalization the on top to We expect product & material first pressure last businesses, business home comparisons factors, in portfolio Global These our in take the season. and inventory until preparation to wait of to customers line Care Home center Pet spring the the with
between transaction between million compensation to approximately are expected be million, strategic to $XX restructuring, is and million. payments Cash XX. be million $XXX towards Turning including and to Slide $XX approximately of and be expenditures And now expected Capital $XX amortization taxes million. million. cash $XXX to to $XX million to be expected costs approximately Depreciation are optimization expected million. $XX and are stock-based $XX
taxes. including use EPS, adjusted rate XX%, we state For of a tax
to To employees strong section, end global and during echo my I work and of to commitment 'XX. David hard our start for the their want all thank fiscal
to back David. Now
