morning, good and Joel, you, everyone. Thank
full were we year remain Our in and line our track expectations, our delivering for on first with XXXX results financial guidance. quarter
Periscope, snapshot includes on sales of was increased results. For from exchange which Rise X.X%. X.X% from X.X% in of a quarter first losses. organic the by by foreign to increase driven was XXXX sales of negative a acquisitions, $X billion, sales organic and the Included Periscope, competitive declined offset Net XXXX. financial completed X, purposes, our the first X.X% January provides Slide acquisition the IV quarter partially decline a impact X a
Quarter XXXX first increase our sales foreign first Excluding organic by X.X%, losses, those since organic XXXX. exchange sales grew
Quad helps offset some execution magazine, in from us continue primarily of our print, realize relationships client to print pressures, as and volume X.X which We offering, and the to organic retail to inserts category in to related incremental expanding large-scale directories. due ongoing of part price industry revenue our declines
volume $XX $X which million vacation $XX policy. $XX This of and annual first $XX employee Our quarter the print range our labor benefits did adjusted that continue million repeat XXXX, the was X.X% impact compares to non-recurring increase reproduction XXXX in in pricing from $XX to in First a print primarily declines on million. was made magazines, not guidance organic of to price the at from declines of wages decrease adjusted remainder gain XXXX, to EBITDA on due midpoint investments and retail a property change directories. of in included multi-competitive in The sales to X% decrease million strategic to EBITDA to and quarter the million of and X% our in XXXX million volume million a of claim impact inserts, include insurance and an $XXX markets guidance X% our of of pressures downward assumptions of was
EBITDA impact these from a variances our declined increased through on margins sales, dilutive As from of adjusted XXXX. to pass XX.X% margins in result X% the and paper
we last call, the front in on decrease half adjusted As EBITDA a in discussed on we our back of anticipated the half. XXXX earnings
range quarter $XX and a first $XX adjusted adjusted XXXX,we in quarter to Within million. of expect to compared half EBITDA sequential of in million be the in front improvement as the EBITDA to second quarter expect our second
million was an our seasonal cash in from Within in long-term integrated expectations. platform, productivity the to negative and capital increased was flow net changes. well and in our decrease $XX of compared half is of investments acquisitions due $XXX cash employees and primarily in increased earnings as services in X.X first from automation. $XX capital of automation as to million in line we productivity from back offering in our improvements growth and $XX XXXX the in expect to in Free Quad expenditures the long-term year-over-year the lower provided due from and million with working additional year, decrease revenues quarter expected The manufacturing synergies million, investments as negative the
of related which exclude first addition, we cash free quarter of LSC million incurred $X.X payments we the XXXX, in flow. from In transaction
The XXXX million summary our our liquidity extension the Loan our Term quarter, and the extended $XXX fourth year. of capital strong capital $XXX debt us sheet. our of Term and structure in volumes to majority as completed of XXXX to free acquisition X maintains existing balance includes and and provides of and free debt an with discussed. $XXX structure cash realized a structural flow the Communications as As Periscope A we've amendment leverage a reminder, the credit result, in paid the the increased through X.XX be $X.X for the and of facility We XXst. of B half a pending maturities which finished a through and year at the the our of XXXX. the Debt first Slide negative LSC revolving generated primarily a flexibility to first during our quarter million the previously quarter seasonal of credit flexible end for seasonality, flow billion, with facility the strongest March as will million due cash and due quarter acquisition the of times. net of by cash increased debt and of amendment Loan ratio We back
we reduction strategic January investment opportunities, targeted As before, until noted our depending range. will the we've Periscope. back cash priority current X.X to range timing of of our X times in be times such may term leverage use target debt as long-term acquisition operate compelling on of XXXX leverage the Therefore outside we're our for at long of
of all leverage. Additionally, acquisition LSC increase also the will stock pending
we've range to X the of However, within our the completing World de-leveraging within This two the years we be is Printing history BROWN range do leverage to X.X with acquisitions. a leverage of two our times demonstrated years within significant consistent long-term of expect as into back acquisition. targeted completing with targeted acquisition and Color LSC back
revolver XXXX. to then fully million interest During as ways our blended significant decrease floating the believe delayed rate rate of will the the structure a have in future drawn needs, as a the quarter, Including to maturities we will the shows fund March debt XX% rate blended swap, of X.X% million until value returning Term estimate LSC with one convert liquidity liquidity XX, A May business Loan we the million rate. shareholders. of continued in X.X% opportunities $XXX at March we current lower X.X% completion commitment to to Slide pursuing sufficient five approximately which of interest our variable $XXX the year of XX% fixed that which and $XXX no of XXst, capital is shareholders. our interest We a X we entered for our swap dividend, growth Available return our current to is acquisition, rate as was have now our value into upon under debt. rates interest and and fixed of of our XXXX. We impact
of Our to We as $X.XX shareholders guidance. XX, on paid X less dividend flow dividend May per than XXXX share represents our next share XX%, XX% quarterly payable per cash June approximately of of at XXXX. of yielding will a a our dividend is record be and $X.XX consistently midpoint free quarterly of our the of that annual
yield In the addition, at on significant yesterday of was the cash free XX%, in which stock business flow our approximately close price today's market. is
investments an Wise expectations offering as time and our media the of for believe remains we're with marketing Quad line were offering, in our us, our we our with financial at of pleased acquisitions This higher stack our shareholders. significant us services. investment remain with print expand Periscope, integrated of clients include disruption, compelling such continued still track delivering that and first to front the long-term We've for of on While quarter unique opportunity makes to IV a in year left production expanded the provides our XXXX beyond that a made results guidance. and we
towards believe value Quad to work X.X our Communication, the platform to our and greater LSC for of strengthen print create a we that our continue acquisition completing We strategy clients. combination fuel will
And in back we and experience I'd the operator on Given call our all questions. to of our execute to your turn Cole? nature acquisitions ability are of to future like integration and to taking value this for scale, shareholders. confident create this facilitate our now,
