Rajiv. Thanks,
inefficiencies. Rajiv, our are you've levels than supply would shipment These our what reducing continue from we disruptions like and and Al engagement manufacturing lower despite significant heard As plans with disruptions supply relentless production substantially and both chain increasing base.
freight also XXXX an second been our have All having for the and faced of expectations these XXXX. material half and into We on higher factors with impact costs. are
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availability. XXXX, we stabilization Over half continued and and improvement of component the and of costs product projecting logistics second are in the transportation
Although ongoing could forces, affected and/or the commodities continues this including by various if in and availability China recession, a economic the lockdowns of conflict. to potential components seriously the Russia-Ukraine be change market
into modular families the product and and the anticipating and longer over cost-saving of are scalable additional also initiatives continued period implementation introduction term. of the continued this We
to legacy Lift the inefficiencies Truck for seasonal As material by sales and lower conflict, and for a components inflation third plant Russia-Ukraine result business normal the of expected from caused reduced the additional quarter are shutdowns, demand with realized the third Bolzoni as results in from achieve return of to pricing shortages fourth actions. benefits return XXXX a expect the quarter moderate, efficiencies in component breakeven we near profitability quarter and
second solid operating operating half the expect an in with profit of second XXXX. half at the XXXX in Bolzoni We compared of loss
operating However, in XXXX. of expected significantly second year in first it profit of lower this in half the our to is than was the half -- be
taken the expected valuation last expect impact we because fixed at losses inventory Excluding enhanced shipments of and the lower in charges year, production cell Nuvera moderately and XXXX asset impairment costs. of reduced fuel
the but half quarter in be a a second XXXX the On are higher previously basis, XXXX. in expect XXXX operating expected in quarter return in as the of net to losses Although a to of we of consolidated expenses. than of result net projected, higher loss first income a half fourth larger third the than
are generated to note the year However, the expected is months. half constraints. cost. the quarter the the the earnings income our and offset would X Generally, due of Current continued adjustments of of XXXX was chain when fourth of expectations supply expected results anticipated quarter than reasonable to relative not stabilization resolution that the to are in I component we losses material because and schedule in on be net anticipated based lower freight first shortages to mainly second production issued release first made the
lower be conditions if could conditions expectations supply or and worsen chain Our if improve. inflation
and We operating our designed to XXXX We monitor an contributing call. update the year, our outlook for on to in our production earnings to capital next expenses for continue a our our expenditures, and manage liquidity. provide we'll carefully manner plan revised factors protect the
program of to including of cash certain implemented in our have timing delays program controls outflow, We operating over a strict the expenses investments. strategic of reduce
to in to will we maintaining investments make business, continue capital the priority. expenditures a be While liquidity time these over expect and
trucks to the build certain components, and added part and ship of of During half levels XXXX critical needed by substantially. build XXXX, the significantly were components causing to constrained inventory, shortages while our remaining ability and was to first trucks increase received inventory
receiving monthly. part last are reduce trucks of That We $XXX inventory we December been they the for substantially reductions in which March process production. to and inventory XX, further million debt build XX, delayed X over to million to months as has cash current XXXX. resulted of shortages has expected expect critical using inventory and with XXXX, XX, of and by reduced for on due production at significantly needed had At $XXX.X on hand million cash with million $XX.X $XX.X XXXX, hand of cash at of and debt and June on million compared hand of $XX.X of components million $XXX.X debt
revolving back to million unused $XXX credit our compared June return capacity of borrowing XXXX, call XX, the $XXX had facilities with under I'll Al. March approximately we million As XX. at now of
