We who time us shareholders and to David, you, are safe else to today. our you taken the everyone that staying well. thank all has and join Thank and hope you
and even two anyone aware, much ago facing short us are imagined when we COVID-XX of society. as crisis a acutely unprecedented just The of are is larger we an than global last scope reported. all depth the As we pandemic months
to of the well of essential who the behalf would On to members Altra, work keep protecting during as businesses I the to time. of workers all including this operating frontline extend our very up essential many help workers Altra team, our gratitude showing are communities like difficult to as
to to turn for of expectations slide our in line financials. of with recap was first X in China. QX two Please the going brief a quarter limited into QX largely our headwinds with the Business months
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million Our reflect $XXX.X QX these $XXX.X with dynamics of compared with ago. year a results million sales
diluted $XX.X will was or of year. few loss with in of share income provide or share, on per loss net our Jacob's share in QX per loss $X.XX was $X.XX for Christian $X.XX year ago compared was reporting Vehicle moments. million XXXX $XXX.X Non-GAAP the Net to charge further $X.XX by share results related per million earnings to an QX diluted last a quarter. The driven QX impairment unit. Systems details diluted per a compared in our
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effort make the organization of associates as possible. are our entire First, safe sure our to as
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a that to take in a continuity markets we essential closer been ensure in the have the majority regions deemed serve we was imperative Please to look to taken QX, X as Community it at continuity. to that businesses even for and energy. Business business we we Due medical, have customers with with supply strict of continue Slide serve formed of that and the such markets lockdowns. we charged the turn In actions essential, fact Taskforce our agriculture operate ensuring to the
progress into continue able in crisis and and we businesses, to company have A&S diversified industrial premier, we to made have only integrating transformation modest part the to swiftly with been our Altra our the the a disruption. operations Thanks respond large and
with work customer now rates XX February the XX for meet businesses of utilization online time. period, as our were facilities shut back down of we During varying manufacturing our demand. all temporarily April to increasing lengths Nearly are to
modify accommodate to have we distancing. social significantly course, operations had Of to
best to quickly are across practices teams and incredible are in Our and sharing true new business fashion, setups, Altra adapting new learnings doing lines. an job, these
the customers, chain supply and incredible of we done government materials job for businesses of assistance the industry maintaining serve. groups, an the and that our teams components many the have supply With essential
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turn Please to Slide X.
Our team have COVID-XX. high stepped in of expediting critical the supplies medical desperately and fight has demand up that the needed components challenge equipment against for been
quickly. some components on see very our proud production machines for expedite timelines team's pivoting included this demand reopening and facilities can that of providing scanners, infusion manufacture short I'm you in and As plans to meet strong move x-ray ventilators, machines very ramped key up portable very slide, ability CT systems, on medical masks. this has to and cases quickly, that orders
XX. cost reductions, executive organization. proactive also strengthen suspension included able labor wage reductions to our Through the been turn spending and we to cuts direct measures, have financial flexibility. corporate rollbacks, across In situation, accelerated Please have discretionary increase COVID-XX we This response broad-based board the Slide retainer reductions, of to has suspensions, merit furloughs, travel.
tax leveraging not they In are do addition, extent penalties. rate and we or interest work the and extensions to incur deferrals fees government programs
outflows level. approach positive. We business businesses flow basis, managing By ensuring all and we on to the better cash cash an have weekly inflows our remain implemented also cash managing ongoing goal can unit flow meet checkbook each business's a of at
cost actions the have if that the we we As a can that flow. act and identified maintain we are we actions necessary, liquidity and we of have confident cash will additional result upon taken strong
under to covenants with credit our We have we the financial are maintenance relative comfortable with compliance the substantial room facility.
have outstanding. a As our million covenant reminder, unsecured notes exclude the $XXX terms of we senior
to completed part headwinds have and due to the We COVID-XX, we through extensive value we a this year. we of XX% I'm are confident de-levering have large our collaborate, scenario times. productivity, at balance to that our these organization-wide despite will and in the unprecedented solve, planning anticipate path realistic in to customers face extremely XX% All-in-all, the deliver year of proud problem topline maintain effort to
Please Slide XX. turn to
immediate on world. company near-term we on the post-COVID-XX be in the COVID-XX our Altra also impacts to stronger deliver navigate and of we focused the positioning pandemic customers' needs, are As
be I severity the this crisis. the to think of agree short-term and and potential long-term and emerge of through all both are can move world we business different has we going present life depth and for risks The from and very the need Altra. pandemic to that the as opportunities
our due operations our evolving very operations business home after to to implementing to to includes This in risk deliver the our and excited plans from the in workplace shareholders greatest and models optimize and about changes work infrastructure are expected in respond other distancing. shifts and model and world customers We minimize to our COVID-XX. social a to value
to and people, people in our worked to the find teams space pivot for waste have example, between improvement now the decade, last For to while operations, minimize our keeping eliminate to ways waste need reduce we process to separated.
we to the that automation. be to in reliance in emerging growth as increasing opportunities addition, U.S., infrastructure the markets placed opportunities value In such channel position growing the potential evaluating where spending increase we on have market, will Altra participate are the medical the and and in on
to Now Slide please turn XX.
end COVID-XX Of the have the course, impact markets on and we uncertainty of to that serve. there is may fluidity a related degree
core the aerospace into that to turning well want Before markets. associated markets defense and with was more the you Christian the visibility performed in the quarter, the quarter with to single dynamics with review low in QX. our more of to call I digits in provide detail, Starting up some
is business. with to positive segment, see related we related remain business commercial market aerospace to declines to the stable expected In The greater quarter, significant our COVID-XX aerospace COVID-XX. no is ahead, Looking relatively to expect our market, the than commercial our while defense this in defense impact. sales significant
still while time recover, business a for the will take is believe to aerospace Altra. it some market we long-term good commercial However,
strong, for to The a strong the and in was a digits up we move comps in as expect due through market tough double to year slowing wind renewable QX to wind coming XXXX. remain growth rate while we market the primarily off low energy continues the see
encouraged single and quarter. automation see were specialty growth factory we to machinery, In digit the for high very
as in see need automation Looking forward, accelerates automation drives home for continued we in factory demand tech shift the electronics. hope situation and to the from COVID-XX and the work semiconductor, growth
quarter were mid-single down while digits where Moving growth the would rates neutral, flat. the for characterize essentially orders were into as we quarter distribution
general the suffer track to forward, with next industrial to decline line economy Looking in expect distribution a expect we quarters. couple which of for we the markets
heavy consumer was part primarily by low the double markets due driven continue the China Europe remaining digits QX. in we discretionary serve in low gas for to expected faced off spending offsets to in erosion we oil expect double down in as COVID-XX. The year Metals in to transportation anticipated strong America as market demand headwinds Transportation be only Overall, decline the duty trucks. partially digits automotive the and and fell. due North coupled were with fallout declines down in the to
expect markets soft. the to metal We remain
In the mining, prices. commodity demand by for quarter, was double down low impacted digits
move this pressure large and down digits expect the low to continue discretionary part as in to spending. we through Garden also decline year. was We due a in single Turf
through The year with on the continue of double to this market market digits the could anticipated was had this market the expect trade to We negotiations We off ag weaken the quarter. this China. year. balance for improve
that However, as was as customers' reflecting and demand and due trade facilities likely institutional COVID-XX demand well reduced gas as outweigh idled, digits our double the down global tensions. being on potential. impact industry COVID-XX temporarily some well restaurant as food to will of Oil
price, supply elevated gas the current through oil oil duration of we the With levels year. remain and pressure will expect historically low under the and
Medical digits across sequentially and double most equipment quarter was the for down categories.
facilities, elective strong, mostly were and related there of rate due equipment short-term orders some idling that the impact to being COVID-XX. our While temporary of used to fight to very for components surgeries decreased negative was is
of We we ramp improve and year move market imaging equipment machines into the to we expect production this ventilators, components for as to the other medical fight. shipments through as up related
call to will With that, I Christian. turn the
