Thank you, and everyone Robin, attending call. welcome to this
led our third X October see be outlook below that our would factors, we two machines; press third a quarter one in the to South incremental in primarily caused caused our a EBITDA delayed Lewiston, million, and is the at maintenance expectations mill, elevated delay headwinds which favorable resulting several in in we repairs adjusted in which to market costs quarter the resulting shipments; pulp, discussed the issues, logistical and contributed during during throughout preannounce our continued is for end higher transportation quarter. the below in factors due start-up to at scheduled the our quarter. As that developments for three the quarter in third range kept did results that to our Idaho, release, but prices the us was $XX headwinds, three had of hurricanes demand major robust X-day the pre-announcement of our fact outlook these Despite revised quarter, These which the for quarter of expectations. high original was paper
X-year aimed a aware, XXXX, we As plan to savings. generating $XXX in strategic between at million in you million $XXX launched are cost
rate identified will on basis $XX we expect million full within projects savings a X to those that million that the in result we XXXX. plan. $XX the completed annual During run quarter, initiatives most of beginning Together, in significant
tons digester of Lewiston running continuous consistent pulp the well, the have it in the and quality. end of we the expected to been of quarter. XXX% third pulp now completed, new higher-quality digester first an XX,XXX on It's to softwood vertically expect on samples operating good was incremental and per tissue that and it year, of construction is began be The pulp the at is integrated produce First, in side. benefit the
We cost $XX beginning rising in rate XXXX. in $XX to is see our This run expect to industry. critical pulp million million in reduction given annual cost
our at Second, the final was automation facility. installation warehouse Elwood, converting completed Illinois,
at entire the of are reach full in for contribution savings $XX the annual approximately run million now EBITDA $XX rate million of annual and automation an to XXXX. We warehouse expect approximately project
press quarter the rest be of I non-GAAP adjusted will the stating to to my Before by throughout The like I'd my distinguishing adjusted exclude are performance. provided get XXXX specifics we I adjusted and release on slides third operating or GAAP supplemental core our that from and between The of to our results preface indicative remarks, results. results, of comments certain benefits the our results is that charges and believe website. not posted GAAP in reconciliation
$X to the the future all closure assets to that resulted that party facility. third of will net City years. million recognized million pretax associated third with the minimize quarter equity-based in There an For sublease of compensation. related loss That lease. of action will facility million asset items primarily the It The expected to is will which expense mark-to-market associated pretax be the outflows $XX involves agreement and be of Oklahoma a OKC million be those out write adjusted the transfer facility. entered to We of cash down $X savings is XXXX, an million cash directors' from a was remaining million The $X third to next to transaction $XX of totaled a the into expense, the with $X over remaining X QX. outflow also this in in cash related quarter. the
several results us and more time. actions corresponding both have generate that that remarks and So in our with that, to response quarter make that get headwinds, designed are results. of is taken third efficient the Linda's let's my we over to streamline operations, while theme cost you'll impact the in our recurring hear savings The reflect
Following my comments, actions this quarter higher-level to during the on some will Linda strategy. we advance elaborate took
So net XX the million, of XXXX. basis sales quarter decrease a of $XXX third from we second quarter point recorded
reflecting tons. SBS volumes of While net and were inventory tissue, price/mix volumes improved QX build paperboard nonretail by due Also decision tissue continuous were lower approximately of in to a start-up digester. of XXXX, shipments reduce the to to down XXX temporary Versus ahead the lower with revenues, of our Neenah margin the consistent were Neenah expense high-cost shutdown X the paper and even of and at is shipments. reduction improvement of strategy. The down sales nonretail XX% shutdown X%, the resultant cost the machines machines,
from million second came adjusted was quarter. on by quarter of QX. Third decrease profit side, incremental planned and in maintenance major $XX The Paperboard $X primarily million gross Pulp a which declined by driven margin costs the X.X% the on or
million XX.X% $XX partially X.X% price/mix. X.X% compared in cost also QX quarter $X million million QX. saw Las We corporate XXXX, and is net million to peak higher-than-expected in third million we $XX and net pulp market in million which interest the offset Adjusted Transportation $XX higher the or Lewiston quarter. of down at operating which or or due Adjusted to SG&A down compares approximately which tight costs That our included a improvement $XX sales, is of major reduction Net the million accruals. to usage million to were profit-dependent third $X was Adjusted Vegas outage in Adjusted higher external outage. after expense and was well electricity in income South, a a from a seasonal experienced external to as previous QX to sustained All by in third controls by pulp margin. to million EBITDA million due quarter quarter, cost was in of or expense pulp was SG&A expense with that due consistent X.X% X.X% was hurricanes prices mill. approximately in sales. $X also a higher the decreased the a million spend $X $XX $XX Lewiston. due rates SG&A maintenance of of $X as the carrier or the of
On XX% credits. expense in benefit $X.X second QX due tax a quarter, to taxes. income primarily our adjusted to XX% basis, the a was tax versus Turning federal an rate effective tax million from an benefit
total million earnings net net $X GAAP million XXXX of and or GAAP credit medical of a XXXX $X $X.XX earnings tax approximately were Noncash amortization, QX retiree earnings per million per to remain share and $X.XX depreciation third QX adjusted net on share. approximately adjusted compensation expense. $X.XX. $X.XX adjusted and $X In benefit end at quarter headcount third provided quarter million of mentioned share included and pension the diluted diluted 'XX, million $X.X basis, adjusted earnings or were diluted The share. previously the Third expenses were both and EPS. and diluted equity-based $XX or $X.XX $X $XXX,XXX per $X.X an of unchanged of per Employee million the quarter X,XXX. and in at or million net noncash
of in second from the and QX XX income to contributed offset pulp, CPD Now sales. $XXX from down X.X% X%, points was from electric which to million more costs QX increase of EBITDA an $X million tissue, improved was million million, Las $XX totaling sales, input declined improvement. second operating the compared $X seasonal Products than all Higher million tissue prices. quarter. or was due higher approximately primarily nonretail XX.X% shift I'll discuss EBITDA higher due was were million, million up down Vegas, $XX net That weather-related mix the Adjusted segment to QX. in quarter. margin was average basis XX.X%, ultra-quality $X down of tissue freight due Volume rates X.X% events net external for Consumer $X sales price/mix QX. which in lower adjusted to a Products to Consumer adjusted results.
and ahead of quarter. to the XX.X%. of was building operating QX. Paperboard EBITDA and was the continuous digester. price/mix the ton lower income The paperboard versus Now of shipments Pulp up second start-up X% was turning QX net X.X% compared in sales Paperboard's QX division. million net per due $XX major mainly sales compared ton million the of $XX in margin inventory to QX favor and million Pulp decision Pulp sales quarter the were to $XXX per $X as was the QX due of Average XX.X% X.X% to decrease versus Paperboard's maintenance of second or incremental margin in down $XX sales of or the million or net QX costs. to to
of total were balance and spent in were million. projects. Now million sheet. to we $XX which have of spent in $XX the a Year-to-date, on quarter, Capital expenditures ROI-positive third $XXX million turning strategic the other XXXX,
now delay in to debt machine approximately outstanding end Our CapEx new million is the warehousing $XX of outstanding scheduled We million, lower the $XXX we XXXX. year. the communicated than million million. the of will million is forecasted at spend and the revolver at borrowings the the that for the the the which year XXXX now outlook That is expected unchanged in to expected end remained QX of of $XX XXXX $XXX we of the Long-term at not $XXX beginning take place million at had machine million be paper paper to under in $XXX QX start-up. $XXX quarter.
EBITDA. Our XX months with last X.Xx adjusted flat was ratio QX at leverage
of decline quarter We X.Xx first to to begin the and at expect leverage XXXX peak thereafter. approximately in
third to focus $X the the liquidity, on and regard million $XX had unrestricted to did to QX our million under cash, available leaves our program. we we repurchase due of Turning not approximately authorization. projects. in quarter our million under That strategic the current revolver. With the buyback stock stock $XXX with ended remaining We
of quarter, third active capital from the of flow cash down quarter. second working XX.X% operating Cash the from generated activities from we operations XX.X% During in management. million sales, or from $XX benefited net
our to great that conclusion, and control. in while impacted can cost make progress things to the quarter, continued address we external internal So we structure and cost headwinds
over the million committed savings in of Massman, of million to that that, As to discuss will Linda annual million we run over turn we of QX, I now outlook. structure $XX who'll of XXXX. rate the cost $XXX call $XXX achieved the company's With QX to
