results Corona our discuss for COVID-XX call thank I virus, our hope you and response joining to Thank first us this you novel well. And healthy morning all all you bonds this pandemic. or the to and quarter Justine.
out responders, tireless thanking the call efforts go front and who to line imperative my or been so from have to I to prayers response societal are the and functioning. the basic on-premises whose of virus. all disease many our all today support against colleagues of lost those and to by are Ryerson to all critical fight recovering part to including wishes required want best Our and and start are who work COVID essential workers, essential courageous
operates. abnormality, time the of our comprehensively a by have extreme acted Control this our During and work as virus employees, first Ryerson provided induced where in evolving decisively to environment we of presiding upon adherence and the well for government safe providing guidance as for Centers Prevention, Disease priority authorities
COVID-XX response working crisis. to facilities to their health our remotely sanitizing and plan of for was health this pandemic, center rapid Upon but our practices service including staggered throughout workspaces, to the onset communication, and reconfigure and shifts, resources, each economic and commissioned and public travel, for team within my a resilience channels teammates dedicated social to facilities Ryerson distancing, our thank network, restricted community's possible. resolve limited the implement policies, and our during not procedures and and ongoing and want I and of disinfecting whenever their commitment safety
quarter, I track margins Ryerson volumes momentum through also during results my hijacked quarter want higher was for to the the saw and outbreak. the whose thank until commendable Ryerson delivering COVID-XX colleagues by mid-March. positive
business full EBITDA fourth guidance release. and quarter guidance of and million, saw consumer construction due generated to we $XX XXXX start which range BCV, as over the transportation, in equipment durables, excluding ground in volumes adjusted or million earnings gate original our of declines sharp articulated oil coronavirus We the contraction with exceeding to well Before net equipment, as year program respect just is income the gas. a slow line and commercial LIFO in out manufacturer $XX of with in
were excluded excluding results, LIFO $XX customers of impacts mark-to-market totaled net million the adjusted would have income if been Further, from placed million. have $XX EBITDA of our our would hedges behalf and on
three three average of below which executed notes in quarter, senior priorities the at like During months, our different felt price by years secured par. approximately repurchasing an Ryerson upon $XX million organizational
significant by operating from activities We the increased CS&W of cash made value net increase $XX generated our demonstrated to and Steel equity. & million debt Wire, CS&W's net was was Meanwhile, progress acquisition results, being and which performance below to notable carbon close book average in Central margins a continue encouraging. up market gross view very positive in us a as was met provide company's with post recovering what with the BCD synergies of at
COVID-XX of for the established dual Ryerson onset the emergency, through In the advance as crisis. a mandate nationwide of organization our
liquidity top provide our for and is recovery employees, safe to imperative preserving while capacity. environment a Our work
XXXX due recession We and the and COVID-XX are learned and recession the depression a given economic call paralyzing deep of deep impact XXXX XXXX the great of us seeing required to-date measures upon mitigation requiring XXXX. industrial to during virus and to lessons
we clearly serve steadfast, that then XXX-year executing a Today establishing history. mandate. perseverance our late began quickly ability the dual and plan exhibited our see same the to throughout detailed and reality requires or Ryerson resilience February in and plurality to
to facility early administrative markets, expense early to cash, of XXXX and working March aggressive to capital increase our capital in significant late course, capital selling, revised outlined chaos policy and downward in budget April, levels, we the general upon XXXX, our warehousing, established our expenditure reductions. drew Given responses targets, credit access and
cost structure a variable In split. to our cost to the we XX%/XX% process, variabilized fixed
and which salary and have unparalleled workshares. demand key employee was reducing we pained in the difficult practically Given made instantaneous, and drop furloughs, including schedules, decisions a reductions, production
our As present organization, economy. currently and society we to abnormalities throughout in dystopian have the in we do we given the things the are doing communicated
that that we if alternatives be understand the is we very probability outcomes there high take measures, worse. a these don't Additionally, will and
between of the XXXX, Executive circumstances reductions to underscores XX% filing dual fee This These X-K Ryerson's stakeholders XXnd, voluntary through April do sacrifice to XX%. taking the salary shared right our under and COVID-XX evidenced Officers and as and that commitment a Directors decisions thing culture our and was mandate. represent on notifying Ryerson's and were necessary
applicable and legislation been Additionally, appropriate have Canada, engaged China. various provisions U.S., we in and the where passed that actively in stimulus been upon the and have acted evaluating
Turning environment. to the current economic
quarter as three sectors energy. The was well in auto, into equipment some and and construction machinery different aero, commercial such started quarter. of looping jammed such quarter flashbacks XXXX and down one The transportation first as and others
two the pricing On supply quarter recovering and carbon the aluminum. of price the first stainless surcharges due were equation varying side aluminum to lagged and imbalances following prices of stainless demand in the through while months
the would up see a year XXXX as of continue and the beginning second to that momentum the base year quarter start for going in quarter in our into communicated the picked fourth guidance was Our balance case slower of the year. XXXX
have out starkly things know all we as different. course turned Of
are Since the The every present pandemic evident there the of fact spreading is as uniqueness for economic economy the to many a geometrically, shuttered balance the unknowns of February, this in began has and at of magnitude indicator. been the guess end year is painfully given which too largely crisis. the demand
returning in continuing XXXX That levels said, and our in the depression say and we to using second growth quarter, the stabilization and would occurring fourth continuing XXXX to in offer with expect the a we XXXX quarter base contractions from third quarter and in economic demand see case into prior XXXX. XXXX and scenario experiences
crisis with appears offline the given carbon the XX-year others. And compared this nickel, encouraging into that which supply aluminum, and averages. went holds ledger if the of side more prices below gone their has in price speed to as given The crisis it
can safety demand. business reestablished also followed to anybody will by If of continuity virus positive margins will cannot The begin manage demand-driven biggest be forward collectively to and prices history is whether with and inconsistency. recover health bottom The course economic normalization. we virus-driven the is lower and public is soon any starts toward false risk risk of and guide where take levels steps risk itself
we conditions, around durables transportation more automotive Ryerson commercial equipment, and machinery exposure construction. to ground Providing and consumer color aerospace have greater specific in and in-place demand
quarter with downside demand gain and the the the the particularly accounts, we of of as late OEM in at second the but into quarter began Active new program pandemic-impacted through business rates. momentum at quarter the albeit large reduced onboarding end the year start
our material We healthcare, and relative end and strength essential consumer end-market also markets. with relative in noted defense, transactional strength packaging, in business business handling, saw fabrication
geographic a operating greater levels. given recovered In the levels. have shipments but QX of pre-pandemic closures shipments XX% and Canada QX of of U.S. are pre-pandemic China Mexico, of a pre-pandemic customer levels XX% XX% number plant the perspective, have at approximately government From and fallen authorities Mexico to by
to work our ability the support to infrastructure transactions centers customers to ability remote by network and buyouts for challenges benefits with navigate significant quickly provide service posed multi-channel and move COVID-XX. valuable readiness across to Ryerson's digital e-commerce in to continues our
allowed and their needs thereby thereby our XXth, utilizing There examples customer customers mutually for have spot experience risk appreciated branches complete getting to numerous March overall infrastructure needs satisfy can multiple who since lower solution. been ability a service digital while customers
Although, given by chains we lasting supply COVID-XX rebalancing highest to it what trend the priority early a disruptions many in to that supply domestic realization supply what economic chain evidence is a is among the but supply is moving appears rooted be we know the reorientation deeply chain declare hope safety favoring chain caused of public pandemic, forward. is
inventories disruptions and of supply in are economic widely not manner side early of as to we thank difficult our the the the and we this which at lens demand supply pandemic, shock through the any the is the and through quarter have Looking together available have the through shutdown. adjusting experienced worked material part we suppliers
of its price and current demand, purchases Given less given that metal supply, sources disadvantaged. than imports from conditions, and non-domestic Ryerson XX% import procured are
supply case, the prices. a the further to for year to adjusting of As downside industrial shock limited domestic demand with continue base to expect balance conditions we
in in EBITDA million XXXX. $X.X The $X.X adjusted revenue year ago first the a period adjusted $X.X million compared to fourth of excluding Ryerson's and revenue of in in in in and in excluding million XXXX contributed loss overall CS&W $XXX.X to the excluding quarter of $XXX.X revenue LIFO $XXX.X adjusted EBITDA million in LIFO EBITDA and quarter results million million and LIFO
and management's million. year-over-year actions. portfolio First quarter chain margins points XXX Gross progress results XX.X% commercial to expenses basis LIFO by to the supply excluding illustrate optimization XX.X% by and $XX.X declined cost expanded and and
revenue within a is post-close basis, this conditions. declined economic current adjusted XX.X% year-over-year for on acquisition While expectations
opportunities. data pandemic. well QX CS&W Ryerson's and the the franchise systems as & the synergies other synergy And bright Steel Central enhance plate legacy CS&W CS&W. of the will in COVID-XX customer side to bar experience ERP Wire European Next of as looks processes the stage standard was tube digitalization an for the additional further get and and improve environment, a validating after conversion cost we XXXX generate performance for further which future point include of
plants Mexico our Ryerson's to relative operational with levels. are Ryerson respect With operations of facilities all activity current and except producing two to
even low incidents of Safety Our to current more becoming so have QX in internalized the measured as performed total operators more of TRI indicating is declined behaviors. brilliantly, and and a by being five-year culture recordable given safety XXXX crisis. metric performance workplace our safer that our of workplace is our important, embedded OSHA's in
our the the Ryerson recovery end tracing, what rates markets the and rates, mortality trends, lack is in macroeconomic painfully visibility XX, second happens dictate pandemic care we June treatment what the that next. will response for guidance testing, demand to rates Coronavirus company virus largely market obvious ended virus XXXX. metal to and from pricing containment, in future quarter infrastructure, pace will which the overall the and uncertainty in health Due into operate and share of not What stemming and provide the is terms of can proactive conditions
we positive policy More and to surprisingly have rather the the we'll fiscal likely been and taking involved growth and balance suddenness standing job to than necessary and actions responses the pandemic. difficulties Ryerson, very With fast such necessary and normalization later. necessary respect coheir accelerate and will responses. and continue Bank be in taken to of Central given up the through sooner persevere have will on
period can whether Mexico Canada. significant the early shipments March demand and several we down the lower North economic two-year than It's XX% America China declines recessions. current to in or in be April XXXX to move higher of in demand X% over we months. prior and those whether two would too period more demand longer We represent period -- have U.S. know trajectories the for and relative enough down tragic noted times note a or and XXXX What in to one-year most were visibility have we experienced say next health with a those XXXX. over into that of decline and that witnessed persisting is XXXX over the in referenced a condition and levels conditions the first with industrial us public It these lifetimes in during
turn first discuss With will call that highlights performance. who Molly the our quarter over I'll the of to
