Good thank joining today. some the financial call you am to about Thank everyone, Chris us speak in spend you, progress our time performance. going and for to on our then turn morning, I discussing accomplishments Mike. quarter and the over to
backlog which discuss these the announced since will for some us two on market. was my are produced in marks to Basics how right the footprint, in of then our our this we in months week of second was company cost. our positioned This Back right and products, I to XX turnaround company year the not right use and the give Back to each years approximately Basics, we with doing to speak call designed to areas ago. the strategy. and Three well areas
or types. different have set redesign to previously factory of and discussed portions of the the product, portfolio design car then properly need the number up with we Starting a for
These and this production. car given our crucial enhancement portfolio from and ability either backlog in compete portfolio especially our efficient product of for is important insufficiently our tooled were where to The industry missing to stands types or today. our processed
recent most is railcar. redesigned intermodal product Our X/XX the
are is We We believe in can production car labor cost it than competitive completely type, redesigned, we we savings makes to realize and car now more of reprocessed. ramped, with transformational material was and XX% than this updated confirm savings this more when of This us redesign retooled fully fully expect XX%. type. and which in
new particularly we pellet every a and car, fully the competitive in or lining with new expect early facilities both to XXXX. is fully car structure. product in expect And plastic the cost cube again, Another large to realize the pipeline and ready we and product be relaunch, competitive important launch with
on pace we basis, With a this the to we presentation. Chris can his will are on savings and end. talk to respect $X,XXX cost in year of on achieve for we confirm year solidly this overall railcar per product to of run target reduction, this $X,XXX that rate by further announced
combined progress. for It design making that are sourcing our process approach evident we now with for that product has time some and and us also been works when to strategic
just the to company. provides those also working that inside is an quarter This indicator not visible,
margin, the we gross of positive positive quarter, margin second gross first produced our quarter For XXXX. the since
where solid starting experiencing, to we XXXX outcome goal have runs and in aided was realize is and been mix XXXX. result positioned work, by against turnaround execution normal so strategic the than barometer Although this our more be priorities of headed. that also sufficiently a performance are Recall far our begin as benefits the to with production our our of ultimately was to to we end some along of is
to facility. our to announced week last our exit we Roanoke footprint, our manufacturing Moving decision
Before the contributions going the just the consistently they would a at into I facility possible inadequate details, of appreciate employees alone we to highest to the like company. has their over and for Roanoke years. our Roanoke you given to much performed are words heartfelt have extend thank at how level express all everything
and calls As to plans matching planned, and our future that is discussed carefully at portfolio ultimately, on fundamental footprint indicated healthy our part previous journey be to our product is a strategy. a We Back of this and many executed. to needs over and to the earnings company our prior call, a it fundamental creating Basics rightsizing points timed,
months. We in over cost tremendous the footprint strides have XX last fixed our made and
recap, we a new of facility at our further in last course, Shoals operating of and the rent. of February announced acquisition the August, square footage Danville by the lease in our completed that As Navistar's assets sale arrangement right-sizes followed
our past fix now to issues workforce Shoals months, skills the necessary world-class previously worked are a have the build the this Shoals that harvesting XX of and possesses. extremely parallel, plant car the with processes types for leadership much team, and importantly, In we most Roanoke. of operational some reserved now to potential has at also the over hard and
And come, footprint approximately or we loss an that of closure in by to out other forthcoming roughly essentially our factory the and still the end achieved square and XX% Roanoke we taken, will without of our million have footage of X.X appreciable the more reduced at with capacity. Shoals XXXX. take improvements feet With square actions
the closing be achieved are in around facility fixed million. cost these As noted minutes of Please in $X and note the press will savings per to to mentioned savings release, majority July ago. a in starting $X,XXX in XX at the that of our Roanoke XXXX to come railcar few addition $X,XXX expect we the annual savings
railcars the to rebuilds. second totaled few In minutes the which new marketplace. quarter, we to XXX would and seeing discussing like I XXX in and side, our what a deliveries railcars, Moving the commercial spend included XXX currently are results
X,XXX railcar compared up last to new previous the which leased to XXX same all railcars quarter the included XXX new XXX delivered cars, the were railcars cars. compares rebuilds, deliveries quarter, which in delivered of were XXX in and year, This railcars. Sequentially,
orders the during received were and XX which railcars cars railcars second for new cars of quarter, rebuilds. We XX were XX
we our received do delivery thus post-quarter These year are speak of additional for just close typically delivery While to not felt second the guidance. reported predominantly the activity, for after our you we quarter. important orders we XXXX future are in included of given railcars X,XXX was it not figure, that and backlog tell orders
railcars approximately an $XX million, XXth, total sequentially sales which $XXX of of as the backlog of of with to of order sales value estimated Our the June XXXX, an total backlog value million. X,XXX of at with estimated compared approximately quarter, our consisted railcars first X,XXX consisted end
Our the quarter excludes end quarter. of X,XXX close figure the rebuilds backlog and ordered XXX just consists the after of railcars and railcars new XXX second
are key many our highlights proper produce are product, structure We on we we new with we economics. this now facts favorable in production specific have pipeline with of pleased the The several a and the in share today. others that cost product to
and factories at indeed can with gross generate lightly margin by this We loaded of one our very turnaround and point standards. our historical positive
cost, orders, size and tailor just footprint quarter fixed the after continued one close. Our work key our to
sheet the cash and list goes Our on. and management clean a ability balance to maintain
of challenges, key a for by cost prior missing near-term time, been same number sales working softness the we've portfolio quarters of the driven against from our and products in the At the marketplace. the backdrop structure,
X,XXX to to down our reflect this X,XXX Looking the environment. it's XXXX X,XXX delivery to market to ahead believe railcars. guidance outlook revising delivered prudent to of we X,XXX adjust remainder Thus, railcars we're of former XXXX, softer to our
visibility we that remain Back a challenging of half to intact back perspective, turnaround positioning future. but for the year we the to a on expect completing With be results Basics and have, we great ourselves from the our
with believe will customers are to to be our substantially compete in enter have we around deeper much XXXX. portfolio evolving We position and we continuing better a as conversations
With second the financial the us quarter? for please walk results through that can Chris, said, you
