Thanks, David.
a store year. $XX decrease Turning of in quarter revenue plan. XXXX revenue. predominantly our fiscal a quarter a million, approximately as third in our increase for to These marketing as that to the strength due our resulting X.X% revenue the million compared equipment to expanded sales, our International XXXX well fiscal X, This equipment third in restructuring Company by closings XXXX came of associated was increase fiscal segment with substantially plan, last International total primarily result significant quarter-over-quarter. our of segment total factors decrease $XXX Slide in from was X.X% were of recognized The offset of as was
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of we higher as same margin basis margins the right increase stabilize size profit an and inventory primarily the due XX.X%, last XXX was margin points increase profit used to market quarter gross was to levels. to continues compared year. continue gross The equipment Our to our
– expenses $X.X for million operating third by million the $XX decreased quarter. Our
compared These our year. cost in our decreases As increase last from operating the are were revenue, segment a resulting particularly of XX.X% with savings third an build Ukraine. International to restructuring same result XXXX XX% XXXX percentage offset fiscal our in out plan, quarter primarily partially continued the of European of in the expenses quarter operating of fiscal the footprint, and expenses by from Romania for
all of believe We million. $XX have expense fiscal our restructuring reduction completed we an the efforts and approximately nearly achieve will still quarter end by of annual third of
fiscal the approximately third of XXXX. million. to third year, Floorplan For the the $XX incurring $X.X of quarter fiscal in of anticipate million of compared quarter still expense decreased We same $X year. costs to cost in and up this last million quarter were XXXX, XX% restructuring to restructuring in $X.X million interest other
senior shows a of and convertible interest year-over-year large reduced our to interest equipment due and inventory improvement expense average the floorplan notes. other bearing in level decrease Our meaningful
fiscal XXXX, quarter and expense the calculate quarter million, to adjusted in compares We of our which the floorplan For third adjusted interest last of million generated by non-recurring back year. adding exclude of $XX we $X.X EBITDA third items. EBITDA
our loss for adjusted $XXX,XXX $X.X EBITDA of the the to XXXX. to appendix the of the quarter XXXX, a You compared can net quarter reconciliation income non-controlling adjusted find million interest In third fiscal third our slide including in fiscal presentation. a of was of
and diluted income last table of adjusted more per At progress bottom business growing support of which as $X.XX purchasing. good of both service to parts, This will diluted This associated per slide appendix of equipment product you operating fixed in margin to We of excludes future our and cost market to a higher presentation. ability the delayed the believe reconciliation see achieving in the the loss outlined Our year. an which of more this downturns the quarter equipment third XXXX, for the adjusted effective also quarter certain is profits absorb the absorption gross and $X.XX share third share was the of our pricing items in us rate, fiscal compares page, costs. metric operations. non-GAAP makes towards pressures the while indicator and rental our current reflects resilient
more third as reduction compared was in same the from fiscal last of and costs parts offset year expense fixed for and XX% our quarter period XX% to operating XXXX profit the gross in service. floorplan than absorption in Our our interest decrease
continued expect rate improvement We remainder absorption the of for year. in our fiscal the
our savings of third due you we XXXX. from on our fiscal and focus overview On the were quarter cost Slide our of restructuring decrease plan realize impact rental continue results for of closings. As year a of million, parts, and business. an X.X%, will see $XXX segment store X, Agriculture revenues service the primarily to to
of Our income of achieved pretax an segment Ag the to adjusted million $X.X pretax compared an loss period. adjusted prior-year million $X.X in
is segment. segment increased The primarily and result same-store in down, profit sales of factors. for adjusted main were two X% the our by same-store gross Ag sales improvement this improved Although XX.X%
fiscal retaining customers an inventory success position and lower closed and equipment increase restructuring in expense. XXXX in floorplan an in plan, expenses in stores; decrease improvement our First, in interest leading resulting margins from second, and operating our to a
Construction to segment. Turning our
was well prior associated year totaled marketing incremental our primarily that as the revenue of which was in equipment as to $XX industry the earlier. with in of revenue quarter conditions inventory million David the a X.X%. aged expanded third million, decrease fiscal occurred discussed The versus $X.X Our of XXXX reduction revenue due
primarily of which in Construction year. from and to expenses $XX our loss compared segment certain same quarter income restructuring to $XXX,XXX the results $XXX,XXX XX.X% pretax in to decrease third funds gross related markets, expectations offset continued last segment primarily in compared adjusted conditions revenues lower a year. Our EU operating savings and markets for Growth profit, was crop million was due same in our plan. revenue period our a of distribution In availability our the our of were footprint. to fiscal by out partially the last cost exceed to international to XXXX, The decrease of international in positive increased due subvention quarter build our
a were Our adjusted results in same improvement compared offset due of $XXX,XXX segment on was in partially pretax adjusted increased adjusted able increase despite lower quarter last Overall, million basis. year. consolidated meaningful achieve we pretax our in pretax higher income $X.X by to the an The revenues to in two segments, income income was to expenses. pretax revenue, largest a
Total was Slide year. X.X%, you revenue as equipment our was see The X.X%, notable revenue being nine-month third parts to were the to X.X%, period revenues. the other XX, nine-month result X.X% recent decreased rental results. to those equipment Turning lift same equipment a as and international of with first compared service in reflect and rental Year-to-date last strong down and similar quarter down sales were in essentially exception results sales flat. in the the well improvement trends as other down
Turning to XX. Slide
to prior year-over-year. of X% was from margin perspective, Our basis decrease we increase compared a months year generated a XX lower revenues, $XXX.X but profit an points due nine million, gross first to
decreased to operating or to $XXX Our expenses X.X% from million due million our savings restructuring cost $X.X plan.
the of months, percentage in expenses flat the lower reflecting operating a revenue. compared nine were year As at XX.X% to revenue the prior first
have now As fiscal costs our million. ongoing totaled indicated we fiscal savings Restructuring XXXX for operating for actions. I year the earlier, remainder to restructuring our due the expense of $XX anticipate
$XX of fourth inventory the to our interest million XX% as quarter, resulting expense convertible a senior work however, nine as well We our or expense efforts in first expense now behind the decrease us. $X.X repurchases compared first savings our expect million the months and is reflecting from in and to decreased interest complete other notes. interest-bearing months in of restructuring Floorplan the to the nine average majority
Overall, versus adjusted plan the When increased in segment compared Our interest both for year in was it of our XXXX and revenues, agricultural fiscal fiscal operating equipment our prior attributed aged diluted period. overview expanded revenues with $XX for expenses revenue loss segment loss impacted $XX restructuring and nine Agriculture with million Construction our in the segment primarily Ag by our margins our provide as were segment well impacted and XXXX prior mind adjusted were This to to $X.XX improvement closings per comparable marketing loss amounts equipment. is that improved months is first reviewing diluted of our associated floorplan in we period. keep by share XXXX segment. and important as an the equipment per of by period. to Slide International On our revenues lower nine-month the share associated store $X.XX the pretax XX, million of adjusted strengthening fiscal the year
Turning at XXXX. quarter We here XXXX. add balance provide we to the of of highlights $XX of of end XX, cash million XX, our Slide third sheet an as the fiscal of overview October
Our improved generated mentioned $XX $XXX up agriculture and equipment was reflects due David crop increase has created yields inventory quarter third sentiment customer the at that The sentiment improved pent have of increase equipment opportunities to equipment. the Ag million purchases additional demand with for replacement combined customer January new Larger earlier. XX, end quarter of fourth XXXX. from million, improved the an of sales
We before than on more equipment we planned inventory core increased by we our new originally have product this capitalize Ag opportunity.
minutes with of on pleased XX, continue January We for are to I our In down provide outlook reduction color inventory will $XX million inventory, used compared XX.X% to few now remainder which efforts fiscal XXXX. the very be additional XXXX. and or is a the
of of at fiscal fiscal of of end assets the Our second XXXX. were to XXXX end end at quarter million compared and million the this quarter the $XXX third the fleet million quarter $XXX $XXX at fourth rental of the
to We XXXX. rental lines XXXX. fiscal for and payables XX, outstanding remain expect of discretionary the flat as of floorplan the of of size remainder had million floorplan continue We of relatively to $XXX million fleet total $XXX our October credit
have our capacity finance needs. credit in to to continue ample lines We our equipment handle
also to and manufacturer first flow mix XX% to a retired floorplan X.X XXXX. XX, cash fiscal financing. since have nine a overview of total or continue was of the of of net period reported We beginning maintain for the provides ratio our $XX attributable convertible by tangible now healthy fiscal statement of cash $XX provided The million Slide of an worth to primarily liabilities non-manufacturer XXXX. notes million, the flow our months senior operating activities for versus GAAP changing
As provided part activities, equipment of floorplan our inventory adjusted cash include all activity. operating flow non-manufacturer by financing we including
adjustment for amounted Our floorplan to payables non-manufacturer cash million. reduction a of of $XX
generated the the inventory equipment sale positive XXXX stocking expanded XXXX adjust provided for exclusive of our in cash inventory adjustments, XX, to our decrease in by the new activities to flow adjusted of cash inventory cash million XX.X% activities equipment also provided and in provided from cash same in our flow adjustment The of our marketing year. equipment activities. inventory activities of equity during adjusted decisions. $XX The fiscal constant the period us for equipment part operating October used flow million aged in result and Making operating XXXX. our decreased in sold adjusted equity by million flow of a of enables equipment reflect financing This a as from compared cash for flow operating period period was last of $XX is activities cash ending to no-trade nine-month inventory. equipment show impact nine-month fiscal represents to operating the a cash these operating We flow our by changes $XX
our I five equipment XXXX. equipment Slide target provide on ending including outlines our inventory for fiscal inventory to chart would update inventory. ending This to for years, position Turning XX, like an our
third of XXXX of million. XX, XXXX, had a of $XX $XXX increase increased equipment consisting As the and the of used in million inventory million new end quarter inventory inventory $XX our decrease of January from in
stronger inventories, the to we of impacting despite assumptions. additional have conditions. annual do is the improvement inventory shifts original Also upon improvements our balance half sentiment impacted the lower reduction Slide based a combined purchases quarter, positive down. turn expect fourth in lower all were approximately new fiscal By modeling quarter recent inventory livestock of sheet values from with well equipment fiscal demand we with fiscal million the current in a areas us compared the to core primary despite expected this updated of black euro. extent XXXX, positioned but not the year-end higher our product have levels X.X demand a to ending end the this improved representing the The on customer approximately fiscal million our lesser challenging market from is line new chart. revenues. generating we additional strategy resulting as in times As we new up in These of higher first Ag our allowing were If $XX XXXX. on fourth the our area, the to inventories. footprint Ag quarter. XX will international ourselves equipment improvement inventory in capitalize our product of this the we shows discussed as pent-up This in reduced inventory moved have reflected earlier our of factors equipment from change resulting by turns drought target to purchases XXXX This inventory our to related in in core by the as our momentum an XXXX near-term end target inventory now of opportunistically in equipment replacement fiscal a in adjust level XX% utilize for of impacting $XX
sales, equipment and diluted international We the current for our EPS. agriculture to our margin some are assumptions updating of reflect our forecast modeling and
in be to Ag to segment segment forecast our be our to XX% now XX%. International Agriculture Our our improvements revenue and We and X% offer down revenues segments. revenues both XX% updated up expect International to
X% our forecast, to to making calls for XX%. not segment are revenues changes down Construction any We which
The Ag stores. the increased of expected equipment Construction forecasting include and margin third on based quarter the in impact prior be expectations results As a near-term the the now standpoint declines X.X% confidence and the in range From we of closed our to X.X% environment, to versus in full-year a reminder, end diluted X% prospects in loss low better per of raise estimate a our the of X.X%. to expectation a loss of to with compares of sales new the the $X.XX improved range a earnings to margins enabling to range $X.XX. $X.XX equipment share $X.XX, are to coupled to which for for prior are the us of segments margins
reminder, of Operator, As this call. any session ready associated charges a excludes now are we range our with the for restructuring. our question-and-answer
