afternoon, you, Thank Casey. everyone. Good
Casey generated the we brands our of also record another with in uncertainty, Foods year XXXX But Crisco XXXX, and prolonged that as net to challenges. a able strategy. which brand continue that flock we was we December As without just year acquisition sales time acquisition not consistent at discussed, were it in consumers acquired our to growth said, was to a integrate a B&G which during by is successfully
million adjusted sales adjusted earnings During XXXX, share $X.XXX of $X.XX. billion, diluted per of $XXX and of generated we EBITDA net
of challenges, XXXX these Our of chain sales of XX our resulting from disruption, an compared significantly fiscal fiscal were were industry-wide marked well fourth resulting the chain by due million is of year primarily $XX.X from pandemic net disruptions during X brand, negatively fiscal fully that of our sales our Net billion quarter XXXX to part last offset spread in supply difficult much million. the meeting X.X% exceeded the weeks by but sales finished the the just $X.XXX net chain full increased variant sales impacted sales Omicron that But Crisco XXXX. disruptions the first history. the first first in in supply we prevented fewer impacted to ownership month The increase year XXXX the set during our net our to products. billion rise early throughout from supply we in XXXX. the the reporting fiscal industry-wide year. negatively year. from $X increased variant from to demand company's last disruptions chain by the as extraordinary week to during the that above Omicron resulting largely We under X approximately the Omicron large time that net This as fiscal sales million billion impacted COVID of of demand $X.XXX sales against the in for bottom quarters or in of $XX and months XXXX annual is guidance for XXXX due of of extra Despite the Net was closing to sales believe how supply it $XX negatively the million fiscal which year, for $XXX.X caused Crisco us range the was variant. comparisons the in lost net COVID-XX quantify addition by to year by and the
to X week fiscal XXXX. purposes, costs, comparative month our under net third expectations material $XX.X fewer Despite than XXXX. exceeded in sales ownership additional December Crisco estimate in more $XX has Fiscal week sales input only increase had fiscal XXXX million XXXX. the a fiscal in the For XXXX. net fiscal than our We in that Crisco our for contributed of XXXX approximately of million had in quarter
believe fiscal than in chain fiscal net annual a rate fiscal the that in business of in of compound base XXXX. XX.X% The by X-year fiscal million sales a the to the net decreased sales offset pre-pandemic by On $XX Base XXXX net volume billion million fiscal million our negatively a fiscal inclusive for X-year $X.XX to we sales increased for $XX supply closing XX.X%. sales net net of by higher X.X% for disruptions of $XXX.X for Omicron $XXX.X approximately XXXX XXXX or variant were XXXX. sales sales increase million. fiscal from reflects pricing, basis, On basis, billion rise an $XX.X in XXXX. product $X.X of growth net decrease decrease unit Additionally, XXXX impacted stack weeks business for net partially mix million from by in
drove by for a sales increased net fiscal business currency base for to X.X% XXXX million. XXXX were net On benefit XXXX. business sales business positive base Foreign relative of fiscal levels, X-year growth pre-pandemic rate fiscal for $X.X compound Base annual basis net than a X.X%. sales pre-pandemic higher
$XXX expectations brand for in acquired XXXX. net in was fiscal for Crisco. Crisco in generated late the approximately $XXX.X Our our when of far million in XXXX, sales best-performing net sales business we it XXXX outpacing million large
of our reminder, that oil, XXXX. rapid for which the the XXX% at we a we the experienced than reached business forecast greater late a in acquisition As levels than for more to soybean pricing peak, we prior announced had inflation Crisco built cost input of
pantry us sales However, ownership, its our of price were periods business brand in higher net offset the XXXX, fiscal peak XXXX strong the not we surprisingly COVID-XX significantly to which required approximately understanding net few levels. is pre-pandemic down expectations allowed other little generally that $XXX.X loading-induced below in acquired than in acquisition. levels prior of With than line help Green the the sales brand, sales bit the our But minutes the positioning power ago, And the these Green business. were the were a of costs. that impact Giant Crisco our with good net to in increases year. trends for we from obviously Crisco for to that the the in large net Giant when with sales more take of category pretty on of had extremely and Based expectations also happy million a are of phenomenon fiscal the at the are the of million results $XXX.X in we XXXX of year our due as to experienced XXXX. for above ownership stated brands, XXXX. XXXX of a Among Crisco its the generated XXXX Crisco also
net $XX.X ahead However, by increased million sales Green or of XXXX Giant net of products fiscal sales. X.X%
as have manufacturing and chain over past are largely shelf-stable years, the for or result here compared or supply Net While times frozen X down for by $XX.X our XXXX. the our a hampered frozen we innovation XX.X% XXXX. product seen and million $XX.X challenges sales X.X% seen our with increased were challenges various to at by compared Net generally for million disruptions. we on shelf-stable sales supply co-packed to both frozen and COVID-related products certain And for as products. have disruption items, improved as we shelf-stable products of to demand businesses schedule
and business spices Net seasonings XXXX environment. $XXX.X exceeded business million and our of includes year seasonings Tone's the compared we Dash XXXX, to when brands chain seasonings that Islands, our Ac’cent which spices Spice had store sales Weber, partnership Our have in foodservice & or spices and & business club $X.X business, our like brands challenging very and levels for which fiscal a levels. & includes acquired well as in as good long fiscal despite a supply that time, we like a up XXXX, X.X% owned million XXXX were
category & experience to our early see by broader but The from larger that to $XXX.X demand than net seasonings of Importantly, to the time. also months increased increased pre-pandemic our are stick, much not we we challenge, seasonings net during and momentum $XX.X strong however, the and seen shortages XXXX of larger but over million they fulfill today or The competitors, supply. has consumer spices sales packaging demand. began XX.X% were demand have and not hampered sales spices instead only continued have million. that of and smaller the pandemic is Similar our building many to ability ingredients customer &
capacity by exceed production at at seen strained have outsized We this years which demand nearly for capacity. also now maximum our times, running has X been
to levels, & example, these Our spices from for sales year QX XXXX due chain net seasonings supply ago were down constraints. primarily
it B&G a & he financial optimistic Foods. business remain we However, seasonings and spices human huge about strategic a important business. about priority our talks against When spent at for and is in Casey spices & us XXXX remains very seasonings increased priorities, talking capital about
seasonings Ortega, by very is are XXXX $XXX.X and net when basis. We an X.X% category to million powerful although X-year and with compared on XXXX, up performance pandemic its or strategic by investing million to Ortega, and we of XXXX brand perspective also we with our $XXX.X making strong sales a bid for X.X% was net a $XX.X not fiscal resources. sale. Ankeny, compared positioning, is exciting only its spices the what surprisingly sales. a growing when million also net of down But pre-pandemic B&G for million in or efficiencies to an peak sales Ortega is fiscal fiscal stack Foods and and line where continued priority represents was at facility, build and on can had are Iowa are and from strategy prioritizing we capacity obviously M&A investments $X.X
in category. million category, should sales us compared additional or down in like Hurlock, brand to another XXXX, important Shells Hispanic we help along to net X% with Taco million North These our increased is had the with facility. or and which in line XX.X% Taco grow $XX.X with facility have great Yadkinville, Palmas, Ortega Las Maryland an in XXXX. capacity brand $X additional produce approximately exciting our are Sauce and report up this XXXX continue We Carolina $X.X investments line very million to fiscal happy approximately to the successfully our to on-trend compared but was both fiscal that an and
as continued are million star a would us pandemic more Las potential challenges our Las down continues breakfast fiscal helping XXXX, compared $X.X of expected be eating net net in Grove grow Palmas. included years million fiscal The of XXXX. accrual negative including sales. sales, expenses X.X% the and for to has in sale $XX.X million million step-up an at are and pension pre-pandemic the important Farms XX.X% Maple acquisition-related to XXXX increased to of our inventory acquisition, of to net a in which a of by $X.X for fiscal the of Gross sales facility, maple more off a the recovery Maple a X.X% or category. the and line of of dressings, in have or to as nonrecurring of amortization fiscal Grove grow but and million for when or also $XX.X estimated $XXX million of Maine of in value best supply to Skinny XX.X% Portland, to up net from pure XXXX, Wheat Cream the salad its up Meanwhile, of $XXX.X fiscal $X.X fiscal what $XX.X for the as manufacturing million goods million compared of net Wheat by salad in but been is Farms XXXX continued dressings million fair or would been progress XX.X% XX.X% for to business. connection $XX.X part pending even Americans from XXXX, see in $XX.X sales had XXXX plan more profit or Gross Grove captured divestiture-related ability home million have limit $XX.X Palmas growth Including in in $XXX peak $XX.X the million was cost value XX.X% was with gross may chain up of one of with profit sold, and or have million compared present able million profit of have impact Maple sales. account of industry-wide to sales foodservice ever multiemployer We fiscal syrup million Girl-branded Cream year, with million or benefited sales. and $X.X well net Farms net withdrawal with closure $XX.X to slightly of as sales liability compared net maximize XXXX have of been our and fiscal sales XXXX.
including Excluding or expenses during the gross million sold profit negative sales. divestiture-related net $X acquisition goods XX.X% million of fiscal and have nonrecurring cost impact been of of of $XXX.X expenses XXXX, would
fiscal they cost impacted inflation, gross was the cases, fourth higher-than-expected of in During which than by were profit were, the in input quarter XXXX. of XXXX, fourth many higher in quarter XXXX negatively
will Our input impact to during is a inflation cost that expectation have fiscal industry-wide XXXX. continue significant
portion by by and inflation advanced prices through commodity We have the of contracts cost-saving agreements supply impact a and short-term implementing purchases been locking to of able mitigate in measures.
We it have for list sense. optimize and where products also makes announced increases trade price certain
in charge However, customers prices the input costs. lag the behind our increases generally rising that we
faced for of $X XXXX fiscal and XXXX. remain expenses fiscal general marketing about nonrecurring XXXX by million general delays, related net the comprised fiscal unable $XXX.X selling as fiscal that of XXXX, administrative from Crisco incremental X $X customer increases million, all such, sales, to fewer of $XX all and fiscal will to fully expenses X.X% a of shortages the The was of XXXX. expenses we $XXX.X partially from As in acquisition by $X.X XXXX. week face Selling, of to offset percentage increased administrative in costs XXXX. million, expense fines $XX were of acquisition partially and expenses by and in offset the expenses Expressed in warehouse million by of increase not X.X% fully we decreases in able and and fiscal to to in was that million we COVID-XX offset were costs The flat and offset we compared selling, in administrative of divestiture-related general or warehousing expenses million, at driven fiscal $X.X in million. and increase expenses primarily million customer
fewer of the fiscal prior had million the to Crisco negatively XXXX. part primarily by to net to week offset by in was compared benefited We and XX savings $XX.X the fiscal to of impacted million XX.X% expense acquisition. expense an as from compared cost only That initiatives COVID-XX impact fiscal was year. up million prior in week. the brand, XX.X% $XXX.X driven million primarily in Depreciation fiscal Interest in I fiscal of $XX.X of earlier, we during year. end for for pandemic, fiscal year-over-year compared expense which extraordinary in average the in The XXXX million absorption reduced amortization outstanding year year. for ownership pricing XXXX Crisco and in XXXX expense X which offset to and EBITDA EBITDA rate Depreciation percentage $XXX.X throughout and $XXX effective adjusted a resulting of fiscal cost tax XX.X% result comparisons in Amortization supply compared As the in driven for $XX.X also million XXXX to fiscal the in the debt well fiscal Adjusted base fiscal XXXX. mentioned volumes. the on in as offset XX.X% disruption interest X months $XXX.X due by compared was of the extra increase cost was XXXX a an XXXX as was from a as by Fiscal Crisco in prior initiatives. fewer 'XX $XX.X input of by in our volume acquisition, the chain reporting our EBITDA significant an compared was debt were by increase the of XXXX. lower reporting were business a was million at XXXX to lower XXXX. the inflation XXXX was fiscal in in against partially adjusted aggregate negative generated fiscal Margins demand pandemic-enhanced million sales
in rate provisions in are the We beginning XXXX $X.XX tax no XXXX were at fiscal to effective COVID of prior in year. adjusted diluted CARES $X.XX benefited Act of share in from the effective earnings longer compared Our that applicable. certain the per and generated
Our us strongest is fourth was perhaps our fourth shares current defined you the in outlook leverage proceeds quarter the our as allowed which XXXX, in And year, X.Xx. we challenging, billion while in more This, just XXXX again to growth $X.XXX our of due know X% be the net perhaps than were a other more sales coupled of sold disruptions. little which the wider inflation, around fiscal nearly growth credit $X.XXX and is in X% true now I in we accustomed bit in historical this typically and by potential we than billion approximately through to of offering to and we of with remains relief today, what received to fiscal agreement half for may potential variants, the and caveats in pre-pandemic offset new that ahead a continued on Based expect reduce rate net to year, by flow COVID under years to cash although our chain representing the the forecasting ranges plan. continued net XXXX. we to X% the second supply uncertainty X%, from our with quarter of will our environment equity ATM quarter, walk
in announced been already We inclusive with fiscal price to in growth expect year. to conservative be initiatives of from have benefits that we elasticity We pricing by initiatives been this that primarily and have net and price launched in additional increases expect assumptions modest fiscal far. an our elasticity XXXX so of full later appear XXXX top although announce sales initiatives, including in perspective, we driven line to that coupled our increases various year we pricing risk XXXX, pricing see
even high EBITDA chain environment approximately adjusted of an on could continued $XXX achieve that are million. future levels We we can't believe of operating can disruption. with COVID and also forecast, net to current uncertainty supply Based result or risks, forecast in our sales in accurately million $XXX we which enhanced
While we do to operating pricing cost we believe the XX% see EBITDA risk savings see input business years cost we to right to some percentage think of recovering levels over a and sales XXXX future an recognize challenges, in to initiatives, will coupled EBITDA strategies, XX% continued help our this with XX% our net in high offset adjusted we our grow risk are inflation. and as We year, unprecedented expect but with do that these that environment of the that fiscal of approximately could for in from long the adjusted XX.X% range to before margins to area plus we term. is
million million; adjusted of amortization million to to XX.X% share XX.X%; and $XXX CapEx we including cash million. expense $XX of an of depreciation $XXX $XX $XX to diluted $XX per rate million of $XXX to of expense $X.XX; to to million; interest of interest tax million; effective million, expense expect Additionally, $X.XX $XXX of earnings $XX million
over back remarks. call the future for turn to will I Now Casey
