Thanks, good everyone. afternoon, Paul, and
more to slides the results Now have key into remarks, on highlight that and balance few our our in a fourth I'll detail are release our expenses, that on little go sheet been earnings key fiscal posted on XXXX quarter a operating contained financial initial and and margins, In I'll outlook. website. detail gross my prepared elaborate greater metrics press metrics
Before going our expense any adjusted point operating disclosures. further, I and make a key about should adjusted EPS
commentary to adjusted approach of quarter EPS previous disclosures. from our and relates fourth SG&A RSG excluding from two-year amortization our incremental adjusted both Our
talk related my many However, on remarks amortization. addition based as amortization items. will to disclosures go-forward adjusted acquisition Paul in a guidance, of be XXXX will I we on feedback other one-time of adjusted the have to intangible references our and our provided exclusion about When in you all earlier, my all prepared have EPS exclude basis, later noted listened
identical consensus EPS reported our of secondary. $X.XX, EPS the not adjusting after quarter, offering; of difference most lost which the in we for with part year tied We $X.XX adjusted $X.XX adjusted street for results which delusion our were compares from the QX this ago For in to the period. did secondary favorably include with
a fourth EBITDA quarter adjusted in the period. to Our ago $XXX.X million million record increased year from $XXX.X
quarter some have flow our trends, daily participation were sales sales X.X%, they but September. roofing quarter, created available August on during greater monthly conditions strengthened work of days July X%, jumped increased month. XX.X%. September favorable Weather our and during impact generally more increased the parts early did customers the for the the work throughout activity every lower of Regarding for
Harvey a slight to sales but the impact produced unfavorable on of Hurricane overall the impact a month. In slight benefit September August addition,
saw of each three our course Importantly, and growth the accelerate over residential, lines; rates business primary complementary commercial their quarter. the monthly
impacted in X.X%, by hurricane Our greater but business existing increase slightly month a Texas October aided produced incremental from by was daily sales positive contribution the Florida, of range and negatively a month year-to-year.
with XXXX Now margins; year we're fourth margins. and gross gross our very onto pleased quarter full
in that, By three Beacon purchases. of as we five improvements during delivered and margin modest in attractive sales multiple the the XX we past realized striking contrast, above on suppliers XXXX, proud Worth our year in gross deflation the slightly the market increase despite in balance local our pricing year, work quarters economies growth clearly margin attempts noting of XXXX XX%. very a the made the produced regional also and We're produced gross versus shown increase slow by accomplished some in as of and previous leaders discipline has above the Company only quarters our a challenges three structural between front XX% the announcement. positive purchasing is organic marketplace. periods. gross scale We've at price as margins team the well For
with mix other roofing Direct periods, year residential XX% XX compared XX.X% of XXX neutral gross and sales nearly overall product basis up pricing points. residential XX.X% sales represented overall a represented XXX basis impact than Beacon's XX in basis declined XX%. XX% with between had and points points recent the declining sales, and non-residential ago more roofing on quarter. our approximately of Our roofing commercial in complementary margins was comparable
QX, XXX price. solid XXX basis gained experienced products price and category Somewhere to improvement points to positive of our complementary
and profit year-to-year. being prevailing Overall, of commercial We decreased basis more our see according increased, basis or XX demand the local strong cost evaluates approximately a gross -- experiencing continue Residential softer for in pricing while to operating QX price benefit markets XX while primary approximately XX are increased cost products dynamics the basis market a basis prices. roofing practices to dollars. and greatest roofing point income with driver. costs basis other adjusts Beacon positive constantly trends me, decreased on products drive points points points levels the during challenging excuse regions in around XXX increase approximately complementary demand
non-recurring Moving expenses; and million, of $XX.X in that operating cost XX.X% onto quarter, to sales, million, million XX.X% costs Applied of XX.X% were which non-recurring sales. RSG amortization acquired with million adjusted fourth costs the of excluding of operating compares expenses includes This expenses charges acquisitions. for total a adjusted million associated of of sales. or of of favorably line cost of year $X.X the $XX operating million, ago $XXX.X $XXX $XXX operating additional all non-recurring our The was substantial acquisitions, $XX.X or side the or intangibles purchase are of Including with other from estimates. planned is in our previous million
Slide quarter. representing for As outlined noted non-recurring $XXX.X XX.X% existing points market the sales, adjusting were existing of million, operating year-over-year. basis or market X, million of adjusted the costs for operating our expenses When an XX on improvement $XXX.X were charges,
to margins. diesel The consecutive While quarter, quarters the in been leverage, up our we year-to-year. primary our second factor cost prices expectations. second above driver have stronger earlier expense cost was with cost operating with variable were past quarter, our a higher in higher the came sales SG&A a digits cost tied pleased gross our favorable several also fuel to the and Rising expected double operating
We a insurance favorable that last recur also not had accrual year. this did year
from upon repricing period. that items, saw pronounced cost B allowed million our most our us cost ago in an senior loan $XXX $XX.X have represented cash of loan quarter. million result other addition closed forward. will new Adjusted these Facility. year-to-year us year and of several and down debt; decrease, decreased a billion that the financing Allied attractive equity benefit $XX.X Interest last $XX.X completed more in facility costs also would QX. expense in the we purchase Onetime pay from decrease been all even onetime debt operating in we coverage and at from stronger October, during this leverage Excluding would to at million term cost $XX.X a to [ph] quarter $X.X raise current the million to tied to combined the that and we our in current year term goes all flexibility secured also end should million ABL put program. we've following interest a retain X.XX% financial completed X.X%; that position and be with even noted going notes management $X.X a significant facility In B financings offering important It the billion quarter for
basis, on effective on rate line also a XX.X% and the GAAP in an Our quarter is for with was expectations. adjusted XX.X% our tax which basis
our sheet. Next, balance time I'm and some flows spend going about talking to cash
at that operations As $XXX.X from noted X.Xx million, was strong Slide flow year full very cash on XXXX. X, of levels
was coupled impact physical quarter of our impact, the timing but of with of of onetime without a a even favorable both year-end the inventory, very of payments result Some payable provided the our cash year. this that accounts which move strong and
track measure also The given storm the impacted Slide as and turnover steadily of strong year. driven considered sheet improved metric key last AP, but on percentage finish around by were for some inventory, in as plus sales key should been X.X capital QX markets. we've Inventory strong a balance to revenue and several times X. bills a improved the results AR metrics as a even turns inventories has areas we trend over excellent past and more working were performance impressive in years. Additionally, be versus such us; overall our inventory quarter our in and times X Total shown
XX.X year days in comparable sales last at both outstanding the Our accounts coming periods. receivable versus period was in unchanged
ago. year increased the working end quarter $XXX quarter from million $XXX to at Our a comparable capital in million
the our but at take was is a year. the more if comparison. the million of sequential although appropriate you the percentage out from increased $XX.X $XX.X capital acquisition, average expenditures compared Year-to-date just to holding XX.X% percentage offering close in flat probably which for was XX% year-to-year to on were excess working we're which cash basis, million secondary revenue, a prior a As capital
Our at closings X.X% fleet in XXXX. in favorable CapEx CapEx sales X.X% past spending The access new transaction and the years consolidations of a each reduction and provided resulted has of two in XXXX needs. which and in branch RSG been in
have times. to made ratio we've offering, times, X from exclude after fallen stated third in leverage earlier our you of quarter public to times. secondary from leverage X.X great the Even debt progress. the stock improved Our our X.X times would dramatically X.X targets benefits Levels exceeding our
XX; color to many added provide details related our turning be Now Slides respects, It disclosures approach what outlook. hope adjusted to X through In analyst we're many to methodology this additional comments; want help today's I of to transitioning also mentioned; will will similarly in we're worth you. to investor that hopeful previously initial more we and our response our your XXXX repeating clarify for is Paul EPS friendly. are
implemented amortization and non-GAAP either between approach by and are our or exclude this more the results We existing costs. non-acquisitive. comparisons also supplemental will operations, who intangible adjusted onetime companies, Following our operating well believe other our to EPS of peers of items acquired all will Beacon's as many consistent acquisitive industry facilitate non-recurring as acquisitive
XX% billion rate expected sales billion, are We sales $X.X XXXX of of anticipating representing to $X.X to XX%. growth
Allied, sales. Beacon $XX to of from we their our add we're million expecting to starting the run Beacon million to then of expected XXXX contribution For incremental X% legacy $XX the growth, quarters to we're range come billion $X.X three with acquisitions. for a of And X% billion rate $X organic will to and Tier
in assuming I'd conditions also believe our demand, uncertainty weather we The in the winter. hail the complementary It we frame. and quantifying represent of comparisons ultimate this and Regarding more next given to of couple assumptions, be potentially an it our and related that will could from neutral line hope our remains make. have are products contribution points XXXX, focus. appropriate conservative. macro pricing strongest XXXX, difficult hurricane By while programs wider challenges upward also bias, upcoming and of reflects area related be internal with business, should range we're noted The there organic
seen trend residential For commercial, expect we growth fourth will quarter continued into continue And XXXX. expect in that this the improved we roofing. in
XX%. As gross XX.X% we're sales percentage XX, both noted in Slide XX.X% to operating a in improvement of margin, of our to expenses, XX.X% adjusted anticipating and range as a
under In estimating to profitability, million, our $X.XX to a definition $X.XX. we project terms range of EPS, of of $XXX adjusted EBITDA of we're XXXX updated million $XXX and
all amortization, we've our EBITDA some For our but reconcile comparison detail GAAP item going also XXXX EPS and fairly of net and I'm adjusted depreciation Slides through on $X.XX. was $XXX.X extensive to adjusted was line purposes, million and interest XX details XX income expense. not adjusted appendix to which our in provide provided And our go EPS. commentary,
EPS Slide Additionally, numbers. our our in XX EPS of reconciliation provides a GAAP historical to adjusted
Allied and synergy full previous first contribution. for Importantly, intact remain year accretion of our assumptions the guidance
three given the Allied our X anticipated quarters in our of January date, XXXX year fiscal However, closing only includes assumptions.
Now Paul I'll to take questions. before turn your back it we
