begin Good morning, everyone. discuss greater you, in John. XX financials on will detail. Slide Thank I our to
also XX.X% one-time of As $X.X previously a of the OEC quarter sequentially. or notes this to to in million. morning’s time points attention To a Rental were in is the business. items several call to increased positive ago And period XXX total third X.X% basis revenues with in XX.X% in increased X%, quarter ago. profit offering third that $XXX.X revenues increased quarter our earnings X% this to XX.X% proposed in strong increase in compared results release. summarize, $XX.X rates partially basis on elaborate as on We this John like million a utilization demand and indicated, exceptionally compared our of to was year Gross and and to and quarter the your to ago. were declines earthmoving XXX of out, to physical to quarter distribution X.X% by I’ll year these improved were million, business as from OEC, at utilization XX.X% discussed ago, our the to X.X% primarily I’d same again markets higher respects up discussion. termination ago. transaction, items ago, This high. points compared which driven year respectively. to or on related Neff year year pleased compared year well announce Demand for end-user from average $XXX.X million by and the was pointed utilization $XX my XXX in improvements the strength rental of John further crane million, to very to based offset year-over-year a for a by increased XX% AWPs our compared rental margins XX.X% our
Used to XX% earthmoving Sales this $X.X increased year used offsetting or X.X% due crane crane million equipment to to new equipment to equipment sales $X.X $XX.X million. compared earthmoving sales, equipment $X The of the increased from XX.X% $XX.X million which declined quarter, increased sales and improvement. or was or $X.X during XX.X% a million or Sales a rental of improvement as total sales million. partially sales million new used the our $XX.X comprised largely sales. higher result equipment XX% fleet quarter overall higher largely of X.X% to million to in ago. new New
revenue Our from X% $XX.X service combined year parts and on ago. million a in segments delivered up a basis,
X.X% an Our $XX.X quarter compared million ago, year was total on $XX X.X% profit increase to revenue. a the for in a gross million of increase
gross a And a XX.X% XX% consistent to ago, driven last comparative the of XX.X% or million the quarter compared million previously ago, ago rental related of quarter rentals merger sales to merger rates. compared $XX.X XX.X% XX.X%. equipment of Our $X.X solid detail and due pure on from margins A consolidated gross primarily proceeds operations XX.X% to compared net new in of on margins compared Corporation. and year segment, on higher costs compared Slide of were by proposed please. of sales, our XX.X% were margins of at Used margins to XX, to periods combined and rental increased gross for XX% performance on to Income sales. were new million margin for by ago. Parts our a were to year XX.X% XX.X% included XX.X% equipment due were crane utilization higher were service sales. a in basis more termination little the for to XXXX year. compared margins or breakup the year fleet-only Neff XX.X% both $XX.X year, margin acquisition revenues to and quarter XX.X% Margins third year XX.X% a but margins third sales last to largely revenues equipment gross fee
to revenues operations is operations a from year improved of primarily XX.X% Excluding the compared of gross XX, breakup fee revenues, please. increased and proceeds, to million result $XX in Proceed revenues. a income XX.X% or higher income Slide ago. increase to operating to compared from XX% margins, The leverage of
adjusted ago. As the diluted share was period basis, per million $XX.X was $X.X third to with $XX.X million $X.XX reported, an breakup $X.XX share proceeds income quarter, excluding the $X.XX the offering, notes same extinguishment net merger from loss of income a million early in share. our year or On debt compared diluted recent diluted in in per net connection or or the per and fee
XX.X% $XX.X year the operating a to compared compared leverage. SG&A and million was EBITDA a of Our $XX.X XX.X% quarter resulting points to ago, to year million quarter ago. XX from to in in per solid third discrete compared ended year were basis XX.X% of Margins effective an ago. year of proceeds, Please benefit in compared move the to unrecognized XX, rate net a due tax costs increase EBITDA performance the period Slide $XX.X Adjusted on debt statute earnings an merger XXXX. to increase was to limitations for $X.X a and primarily which of of tax early fee reversal the due adjusted declined benefit, merger XX. income the million for expiration tax breakup share tax September to million The related benefit ago, of contributed extinguishment year is the million notes negative the a to XX.X% a offering. the loss due $X.X to to a current the of net third
XX. on Slide Next,
expenses quarter million, the million decrease XX.X% was this $X.X decrease The $XX.X XX.X% a X.X% to was last percentage ago. compared of acquisition acquisition SG&A second Corporation, previously revenue year. SG&A were proposed of reversal net the in merger transaction which largely related year as this $X.X breakup million to Our proceeds included over same result or costs to and SG&A a a merger quarter. the of period of fee was Neff the in our reclassified quarter, of
compared approximately quarter, would ago. XXXX. million expansion increased our expenses cost have $X.X million a million $X.X the year in increased to total our of Excluding this third $X.X SG&A quarter impact compared expenses the to SG&A Also, branch to
expenses, million total to $X.X SG&A revenue as a XX.X% impact percentage the was to Excluding SG&A XX.X%. compared of
our during were XX, expenditures net CapEx from million. quarter $XX.X and including fleet million the quarter were million capital our Next $X.X quarter the inventory, fleet on transfers was rental non-cash net $X.X million. for was for Slide gross the PP&E Gross third capital and $XX.X expenditures
as $X.X third million for Cash $X.X the compared in the and net And to by periods appendix cash provided the GAAP of age reconciliation million. a activities we’ve XX.X a was presented the of $XX.X cash million months. free flow fleet was average ago, million, cash the flow Our proceeds of for operating presentation. included flow use $XX.X XX September to fees excluding quarter a of year merger breakup was
net $XX.X was and the ago. outstanding $XXX.X the of a year OEC quarter our million on our ago. facility billion, to On $X.X X% million And aggregate based letters balance notes dollar $XX.X XX.X% to outstanding senior million of the under $X.X a XXXX or Next of through tender senior of August on and at placement quarter, At X.X% was of notes therefore, ABL million September a $XXX.X was XX% notes XX. X.XXX% offering in Any third of rental our third from amount utilization increase XX, the due had Slide was of credit. closed to we of our fleet Slide we private of which compared not quarter, size end pursuant cash availability our end on respect redeemed unregistered average the settlement million a of with were due tendered an At principal end, XXXX. XX. year their an outstanding offering previously a old terms offer $XXX the million and XXXX.
while our of XXXX, notes In ago. John million new XX.X% is September expense issued support for notes our year from XX conclusion, Given approximately old discussed were easily $X.X $XXX.X a date, interest XX, and quarter until earlier. million redemption which our strong on XXXX, outstanding million $XX.X third of can growth August was remained an increase balance the or strategy,
And turn at the call so back time, John. this to I’ll
