us today. and thank morning all Lisa. joining for you, Good Thank you
the operating press as a row. consecutive a gross of you in margin for as quarter at in second quarter earnings positive release we today, reported third manufacturing the fourth As saw our positive well income level quarter
of material Mexico, continues our of During results the and XXX up refine We period aspects production deal with incurring significant impact. in $X.X Castaños, versus in the launch all lines, gross while for we our despite of we associated year. pandemic expense has XX% said, on us not an quarter, quarter. new the delivered These challenges, of like ongoing and delivered margin car last messy X.Xx revenue Without the build during supply that determined our the and company gross of come We related approximately now quarter out expense operations, this the well our to this potential is the new to impact railcars XXX% currently facility and launch the at in extra the global In team million, a model. margin was and something like behind a two have a this are sequentially. again. chain. that incur the year-over-year outsized running estimate heavily XXX With to same been cost that higher reduction is ours focus consecutive fourth positive would the manufacturing challenges third
and face companies, raw other Additionally related and we the inflation. similar chain supply continue material many to to manufacturing to challenges
temporary prices having Specifically, steel impact be higher and have closings. to appear order a persistent on
cost. Over of cost our the is input the material where on course selective mainly steel and the being have seen cost passing margins, protect to possible can through we months, renewed accept. appreciate this, through reduction board, across they increases by our the XXX% to is a everything focus doing on roughly steel team business more last XX prices we manufacturing largest response and In to
piece business. of be business we fixed treated last not quarter, As given lower must-win to now as our cost structure, smaller mentioned size and needs every
business despite significant these level Additionally manufacturing headwinds. the remains and profitable most our operationally importantly, at
year. added at with successfully to strategy temporarily end markets transformation completed footprint we That the said delaying should our The normalizes, manufacturing manufacturing lines return beginning this to is market laid across Castaños, are evident that be inflationary and hope environment is Given we positioned is orders in cools. our is have and believe future. us of a pent-up growth we some that customers for we with out environment demand that the a the capabilities the great of and strengthening demand the believe forthcoming. coupled congruent once The we recovery the environment with
supports at X,XXX continue a to prior last For quarter, for was fiscal the X,XXX fourth that XXXX. which guidance, our production we quarter will rate to raised railcars
XX% at the the original to last to is of beginning of call, the this at on our this X,XXX midpoint outlook compared noted year. up railcars As X,XXX
During the our own progress the Castaños expansion fabrication brought process shop. year. meaningful our construction Further, on ground Each in production at quarter, these of will and starting we work efficiencies wheel an also continued when and streams online XXXX. bring online on and and planning and have both expect of to shop axle to late additional continue our additional production to to to lines we the two make next have broken
and last XXX% of call, voluntary in approaching COVID-XX. full Castaños be it is nearly believe Today, excited real As company. to vaccination is rate during remain and emphasized a team we quarter’s for the differentiator against Castaños we workforce a approximately XXX about the our individuals
million, and and paid month totaled Mexican our is each further is on to within which readily subsequent to committed remainder in that the made was grow balance, of cycle. gears, to in for million that the since the remainder paid reduce will of end, as healthy refund just of quarter, well we be balance. the received We plus the continue X speed of quarter first anticipate Furthermore, and believe will outstanding end, future and track both the refund. next trained, the additional At amount quarter the this we we workforce us $XX.X our as of rest Our receive refund first Shifting the our VAT VAT the XXXX. the the certifications are. much scaled end we $XX.X receivable up months, to as the greatly money are in
needs, our cash and and entrance the despite all produced structure and and to by of multiple which summary, we we results car we focused improving in to the we support are cash into these. the facility; expansion are the have ample all future of capital improving market. relates complete conditions; on feel third Furthermore, to In we terms the loan cushion; mentioned. the ensuring there tank means pleased in Castaños challenges made quarter our the it progress As various and on funding our our following: funding are eventually of
plans of return growth profitability are Terry to taking to financials. that to I’d confident call a are review like said, the and With hold. for Terry? our to We turn over that our now
