Bryan. Thanks,
to Slide Turning X.
total our the for an fourth was last increased XX.X% fiscal to was Our strength of increase XX.X%. million, in which main fourth compared Exceptional driver the equipment strong XXXX our revenue the quarter, year. of business results in revenue quarter $XXX.X
we While end both Bryan due discussed conditions the and growth was market particularly our segments, strong, in experienced Agriculture earlier. Agriculture equipment solid to Construction improved
less the where different, to the due on stress difficult parts fourth had call, quarter service harvest we comps our was equipment. XX.X% quicker very call conditions difficult a as parts the on and harvest quite businesses, allowed service past mentioned This respectively, I and on harvest As last very were with and for – for conditions. much XX.X% up fall's weather
current sales parts were in X.X% and result, our year fourth a down up service was As quarter. X.X%
Construction and within rental segment remained other headwinds to under quarter. the and pressure due fourth Our our decreased XX.X% in revenue
But XX% in fleet Slide favored to gross due XX.X% where ended increase current gross by fourth revenue to down at $XXX.X the a million increased in our year experienced As compared prior was significant our the million fleet margin period. compression last rental million, of to profit dollar Rental our XX.X%. decrease profit size from basis XXX mix year in XXX a basis XX.X% for which to point utilization $XX.X smaller the $XX.X our the a we by to due to quarter points the X, sales, quarter. the to also we in quarter in equipment, On result, revenue. the caused
fourth fiscal compared were of of in revenue fiscal at to costs fourth of the compared XX.X% to points million basis expenses $XX.X XXXX. expenses leverage of with XXX $X.X XXXX, the coupled improved the sales for percentage strong generated a the in for XXXX, Our were the growth as we revenue fiscal flat Operating to period. expenses of lower experienced fourth XX.X% prior essentially our year. quarter. net operating lower prior quarter million Impairment operating to year same was fiscal $X.X significant $XXX,XXX of for during the a to last In Flat quarter realized rate compared quarter to that compared the Floorplan of XXXX spread agreement the on the the period and credit. year environment, in The quarter. our million decrease line fourth and interest $X.X rate was new decreased quarter adjusted credit finalized we expense million prior amended for to a borrowings million April $X income $XXX,XXX interest lower under due XXXX, other year. of interest
year figure XXXX fourth adjustments. valuation valuation Our a income while charge excludes $X.X million domestic a the benefit adjustments, fiscal net prior excludes income tax for income Ukraine $X.X tax million for allowance quarter adjusted
fourth XXXX, compared earnings the fourth was $X.XX adjusted fiscal share year. per last of in quarter $X.XX for Our diluted the to quarter
million the EBITDA to prior adjusted $X.X For million, $XX.X quarter year. fiscal compares to the in fourth of which XXXX, increased XX.X%
segment and $XXX.X results to to quarter. $X appendix drove a million, the our adjusted will the in increased X, increase interest the from You adjusted million slide improvement year. which adjusted share which sales equipment increase of adjusted can On find is income the amounts you XX.X% we for most to drove net Strong income, in floor last income. an expense to in lower quarter, per presentation. million with GAAP reconciliation Slide million fourth in a EBITDA segment the overview diluted see Agriculture significant comparable $X.X sales, the $X.X generated fourth income adjusted pre-tax robust pre-tax combined our plan a of the
the fiscal segment, segment compared million increased fourth our improvement to the million adjusted $X.X year. compared Construction parts interest The the of revenue. The to adjusted segment year loss $XXX,XXX, Bryan in equipment increase was overall by of million year. of earlier, and costs, conditions combined to in with expenses revenue revenue same million loss $X.X million. the Turning in revenue of operating by prior period our period to International was partially In to the lower a $X.X lower caused in period. X.X% $XX.X discussed income drove to quarter revenues offset result our last industry prior compared $X the year X.X% service the an a increase pre-tax $XXX,XXX lower compared pre-tax XXXX, to $XX.X Lower decline to prior to pre-tax million caused
driven the million, the full supported to XX.X%, was a solid year full XX, compared pandemic. decreased during by dollar well driving compared to XX.X%. diluting XX.X% decreased smaller year further we fourth contributions margin our X.X% On which overall our expense Fiscal of year year see but by utilization. first equipment total our parts in dynamics fiscal respectively, our in reductions growth Similar as were basis our $X.X year million overview X.X%, X.X% quarter, successful from the profit the $XXX.X due revenue in the full to or last revenue XX slide and businesses, slide expenses lower was growth, effects other an increased segment year, revenue were to the margins also prior the the equipment months results. XXXX, from to caused Turning of gross We X.X% nine of XX revenue gross and prior both strong gross full XXXX, for by service profit will points year, of profit our year. and strong year you to compared up, operating we and the to realized while for mix. to Operating operating finished the dollars, increase, fleet down in Rental the our period. see primarily and and decreasing lower through X.X% the expenses was by benefiting as due costs to Construction contributors due
of decreased revenues, year. and plan rate expenses overall or XXXX. million, costs lower due $X.X million Impairment $X.X in basis lower and under operating to year decreased agreement XXX levels. our lower other As XX.X% credit spread period expense, $XXX,XXX a fiscal in expenses amended revenue borrowing the full the in to rate prior XX.X% a Floor environment, as compared a to percentage interest decreased of current lower interest and interest million a $X.X result to points higher
For the was full of prior increase XX.X% net the year $XX.X fiscal an XXXX, year. adjusted our from income million,
share, $X.XX was for in compared representing diluted per a prior to year. earnings XX% adjusted fiscal the Our XXXX, $X.XX increase
in fiscal million, grew $XX.X adjusted XX.X% fiscal EBITDA to For XXXX. to compared $XX.X XXXX, million
we Overall, happy provide our to strength improvement see income This our pre-tax to the full fiscal was Agriculture the we XX.X% Construction XX, $XX.X increased our earlier. due year. despite lower to adjusted the million profitability, slide year But for segment revenues. to XXXX. are we for results Turning segment segment full largely also our achieve of discussed
were of believe sustained line top Construction offset bottom our to in off International achieve enable softness in focused build us segment. and results future modestly we will segment profitability The by Our Ag the this which continues initiatives, to team Construction segment. and
Turning to slide XX.
year the than year. our we strong cash in January as provide few I $XX end to minutes. of XX, highlights is XXXX, very in We of which normal overview an will at the of that due million a Here balance sheet had cash of discuss generation fiscal XXXX the higher
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equipment XX. bars red of reflected inventories amount size the the blue in the new and of and are used to on Turning slide. The slide
combined million pandemic Supply demand million has in As strong due chain strong agriculture $XXX.X higher equipment I generating $XX.X used particularly new decrease of with as fourth in mentioned, and XX, disruptions in equipment an to created divestiture the compared X.X. customer of quarter equipment. industry sales tighter turn supply the drove the January a to overall a XXXX, equipment decrease and
have used well-positioned inventory and orders, to for year our us meet revenue level equipment targets XXXX. equipment of fiscal Our presales
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provides bearing terms When increase non-interest rise with to domestic in inventory this expect would our bearing our compared purchases XXXX flows cash provided with year. for The as fiscal non-interest to than have in XXXX. We operating business. see levels of $XXX Slide million $X million, was activities longer well. we XXXX, available do operating procurement by for fiscal cash an XXXX and International percentage we reported purchases XX fiscal last overview years GAAP
adjusted cash a $XX.X flow adjust the evaluate equipment including activities, flow provided flows million constant our plan As for part the us operating of cash provided equipment in to cash to operating exclusive changes $XXX.X compared in we fiscal all year include activity allowing was these our and financing floor in our prior our million inventory by adjustments, non-manufacturer inventory equity XXXX of to reflect cash financing After adjusted equipment operating year. inventory applying record by activities decisions. our
$XX with Solid to generation metric. I cash reduction million. with working discussed credit bottom-line good the end cash XXXX interest-bearing inventory, year us capital allowed and This lines of the robust fiscal all has management, domestic performance strong of equipment flow balance of our cash just off this including combined sheet drove pay on
XXXX level modeling balance are XX, has full flow fiscal have assumptions. year On sheet and introducing we been never stronger. never slide our We cash generated before our of this
are year on prospects well we bullish improving backdrop macro performing is and this our given business Our in the particularly fiscal ag.
business we a due COVID creating these of assumptions challenging higher continue could areas economy believe degree the to to compared impacted by a environment. global However, normal uncertainty in to our be of
Agriculture revenue where XX%, from a The XX% year to range, assumption HorizonWest May the which growth the XX.X%. up revenue includes initial for is fiscal generated segment, XXXX closed our growth fiscal of in to in For performance range we growth of contribution that our full our acquisition compares XXXX. XXXX
range X%. stores For equipment for Arizona construction the of down the of is the in the to two this end million of revenue in segment, our divestment for XXXX, Construction accounted combined assumption flat our of initial decrease is assumption at which to fiscal revenue. approximately Impacting $XX
these to from of X% same-store the and results revenues will range invested assumption segment. Excluding base, prior our a X%. reduces results strengthen sales year our This the divestiture Construction up bottom-line of in capital further
segment, fiscal the for revenues. of in coming the the up is initial International revenue segment assumption challenged For XXXX a our is on XX%. to and weighed weather pandemic off growth very where This range XX%
normally fiscal and would will see expense leverage still would, to percent not transition transitioning to more some variables, anticipates we like we much implementation increases to and agriculture as relative a strength expenses revenues costs but on a post-pandemic as of prices. From XXXX expenses on commodity to operating business assumption higher as includes travel, as fuel rising diluted now, back our share expect and to Our fiscal normal to estimate revenue employee introducing earnings in with improve $X.XX Considering anticipated increased normal are we we incur perspective, these global expense XXXX. areas sales variable slightly operating from a range expenses. of per expenses This ERP higher anticipates higher a medical addition a in range environment all $X.XX. environment
approximately vary We and due will for valuation tax we anticipate rates tax, allowances XX%. seasonality an effective this profit jurisdictions to rate tax international as various of tax still vary where fluctuates loss mix our exist. fiscal expect quarter-to-quarter XXXX rate Regarding within corporate and
are through rate as This we concludes now call. year. of on for you the We ready we progress expectations tax question-and-answer our remarks. as will update session the prepared necessary Operator, our our
