Thank call you, us good everyone on to today. joining Paul, and morning the
If I'll you X begin Page our can presentation, quarter. turn your of with from our attention to first key highlights
of expansion initiatives. our as expectations, Elevating quarter first value growth revenue and quarter Excellence against came continued profitable strong highlighted by of creation delivered in new EBITDA solid another ahead Our order team and momentum, execution margin
[March]. successive with quarter, the sales first During increased each momentum
XX% year-over-year to New orders in increase a in quarter-end the contributed backlog. quarter
to the last of over XX% sales Rentals. addition increased year-over-year quarter. increased Rabern modestly revenue year, largely Manufacturing quarter owing in First
chassis, shortly, discuss carry impacted quarter which sales will very truck of by a Joe was gross low decline in pass-through margins. as revenue However, first
result. top during rest While impede year, as margin improvements a modestly of this anticipate gross the the growth will line our we
products and as equipment general and in elevated experience electrical across such and energy, We driven by upstream continue levels demand in activity transportation Europe, America infrastructure, both markets to lifting strong construction. distribution North end key
and of record evident at show. line of robust. reception This the products We improved full Customer backlog. customer reflected recent at closing trade was which in interest the our show, in received end-market demand first CONEXPO not orders are our some quarter was favorable
of In equipment something on sold that in have piece site fact, every Las never we we happened before. that's Vegas,
a trade CONEXPO is significant show order as not generally activity. viewed with
vote the confidence came encouraged of we with customer grateful show products. away in our for So from sentiment their and
strong Texas its Rabern which Rental represented by which quarter. of our result launch segment, Our reported location, first new Rentals, We stores in is opened Lubbock, from another in benefited the the March.
location rental commercial backlog a industrial bolstering rental-focused in that fourth equipment. infrastructure, our for are demand benefiting construction projects is of Northern activity robust, strong from Texas, fleet represents This where our and specialized of
and first continued a to optimization, procurement supply progress the and margin cost actions year-over-year chain organization, we which the in productivity These focus improvement. strong quarter, and on to improvements efficiency fixed During across our include increased resource initiatives on resulted management make absorption. our significant
product in headwinds our some These the American were specifically and North suffered on supply velocity and primarily impacted delays Production chain affected delivery steel delays. manufacturing fabricated quarter by suppliers.
XXX Despite despite last basis This XX.X% gross the seasonal typical the and from first quarter. headwinds level, are -- up lower year production quarter. from fourth quarter XX.X%, first for occurred was normal the margin our typically points nearly up
recently measures, our mix. the benefits resulting In efficiency continued product more margin favorable benefited margin introduced further gross discipline and addition from price from to a
years. show, last year, XXX incremental to were XXX every which points of expenses, from which X.X%, CONEXPO basis points X up basis trade the which margin We reported first quarter roughly related takes of despite place EBITDA is
margin expansion progress EBITDA We set we our margin basis to year which efficiency were include a are between of our by objectives, are on well These margin XXXX. points initiatives, the confident multiyear target XXX longer-term XXX goals last am are that track on that improvement and achieve the we and excited rapid goals I operational by outlined making quarter. of
The into witnessed demand favorable throughout customer first quarter. continued XXXX the
As robust. mentioned end as mining million release, to our nearly our press and in nonresidential $XXX our key energy remain as infrastructure, such improved construction, backlog markets
are infrastructure our infrastructure, electrical and of less money. general spending stimulus energy impacted instead benefiting and key Many from and by the federal distribution road by markets. economic verticals and General infrastructure are all are swings driven construction
minerals capital maintenance mining We global for demand are also copper, improve and activities. such as seeing goods spend
While demand tailwinds. macroeconomic favorable XX% quarter continue during backlog verticals our not see American to the many immune headwinds, The and our first to was international. geography we are of North by XX% composition of
across strategy, we transformation sustained year, commercial Page our outlined on roadmap this The our to Earlier our initiative, targeted business presentation. multiyear a X launched improvements expansion and Excellence Elevating organization. of XXXX drive is productivity designed
a allocation. expansion, As disciplined Elevating the focus excellence capital Excellence on reminder, commercial and operational targeted is sustained
all this given since rolled improve this the performance. evident, which strategy processes, will internal we for is is financial focus quarter, XXXX, aid production recent year of the out progress last we targeting that plan have I'm this already primary we proud and and to While aspects are very output our of our made and efficiency. approach
products a products X, progress Crane ECSY of we and from Electric Page our both this initiative. outlined commercial the March, the new reception strategy. new launching growth In the in good CONEXPO. made TCXXX-series truck, customers. have System, received strong launched Both we to these On quarter, fuel XX-ton our at We
on North introductions innovation can in on that product core lifting product XXXX, equipment both result categories and which focused in company robust marketed will new will be in focus Europe. be Manitex America
In Rabern on expectations, strong demands Manitex first expand and continuing owing our March. quarter, exceeded markets, end-market North in the is branch, growth footprint. revenue of favorable organic Lubbock which Rabern focused Within opened business ownership, our to generated Texas Rental's the pricing during and Rental we to segment, in year first increases new has
The strategy X. operating outlined our of on centers our Page key second on performance. tenet is enhancing This
accomplished of chain meaningful the expansion. across organization, that improvements throughput already include manufacturing proud very and which margin efficiencies meaningful are We into have supply translated improvement our
At operating improve time, performance. have we same further the to our opportunities still considerable
integration to for onboarding schedule. example, keeping upgrade systems this our we operating For completed completed growth. ERP the businesses. improve manufacturing our system a our ERP to The April needed costs project and the new our smoothly, scale to with We ability European on system was in of
As December. our these integral to investments a our of are in Solutions system ERP reminder, improvement Both initiatives. we upgraded Rental process
help the previously, efficiency for business mentioned systems and growth. the position fuel will As new
to cost We that beginning savings several initiatives as to pursue well. successful are sourcing is also generate opportunities incremental
we While from are with we progress. continue chain challenges, pleased supply headwinds to overall, the early see some
prioritize of strategy our final In to Our will involves support continue investments disciplined capital growth existing area reduction, on X to in capital which allocation, our XXXX, we focus capital and organic allocation detail select the presentation. of debt operations. Page maintenance
a capital our committed of ratio of and in closer driven net are flow at combination expenditures. operating target to or leverage We long-term our improved to decline cash lowering Xx, maintenance by planned below a
our first return value quarter, net implemented results, from XX, at down driven Elevating by our We operating year-end. X.Xx made the our to investors. which March progress nice to with of X.Xx leverage is as Excellence in declining to strong was
presentation. strength the and on targets financial markets, the with our benefits reflect that our operational of confidence strategic we our the to quarter, in introduced brand Last can X we generate of coupled initiatives. Page These found X-year expect objectives underlying through commercial be
million And a unchanged. between million EBITDA of remain a between a growth margin $XXX XXXX XX% targets Our XXX% XX% are as expansion. to we between or to reminder, or of and $XXX between to million the growth range, at and EBITDA adjusted 'XX, million points targeting XXX $XX of midpoint basis and XXX revenue year-end $XX total
Joe, to Before around concluding I turn a XXXX. outlook provide few to our remarks the allow me call for over
I can't customers about our the say enough Manitex. placed have in confidence
remained very are for the Customer XXXX. through We April demand strong grateful business.
and meaningful positive outlook and future. strategic is positive have team the with confident -- management we toward a Our have our had progress a and making initiatives, we
Coupled with manufacturing reduction business, improved net and America, facilities our current processes our in share equipment of within from we improved focus expansion on in continue market further operating leverage our utilization of XXXX, levels. rental to focus a on growth will North
believe first our solid new remains EBITDA adjusted quarter on we Given double-digit to low results, Manitex track continued deliver XXXX. improvements, sustained and order in margin momentum growth
over turn of I will it review detailed results. to Joe now for a our
