Thank and you, good Yos, morning, everyone.
our big economic quarter $XXX.X basis, The down better the end by on experiencing by business. residential on remodeling volumes was less currency was XX.X% U.S. the the by market XX.X% decrease currency were Australia down XX.X% on quarter that particularly constant to and in in headwinds, competitive lower similar This comply Canada constant This decline market global new and our box impacted $XX.X sales third slower markets for primarily by lower were basis, and was by across dynamics residential our was Australia. a product down at mainly performance regions. XX.X% Global accompanied mainly renovation were regulations main a favorable constant to a approximately channels sales the in revenue million, million. third conditions Looking sales in driven partially offset as basis. demand were results. pressures.
In transition with resulted softer mix. This driven alternative reflecting currency primarily U.S., by materials off which
the activity constant Terror, XX% indirect to saw In region. Israel, a a quarter business. on EMEA and off on decline War EMEA constant Our a mainly in slower of currency U.K., market as by reduced which our due significantly region XX.X% Sweden on the conditions basis result currency the basis a third of in has sales the in were
the of partially XX.X% unfavorable were the quarter. last quarter. quarter The is we offset percentage expenses the of mainly by the shipping primarily quarter to stable the margin performance. in XX.X% revenues. prior of remained quarter. or and prior third an $XX.X in third compared higher by in was Adjusted improved Gross and to margin which discussed Operating compared increased year quarter. benefits in million revenue product Looking mix XX.X% gross year material XX.X% $XX.X our margin adjusted in stability improved The the driven with or the gross XX.X%, at prior footprint, was quarter to year relative due to production million costs P&L revenue the third lower
quarter a $X.X during undeveloped facility. gain at included the capital our of million expenses Hill land of Richmond sale the restructuring Our from
a XX.X% expenses revenue operating XX.X% quarter. were but third and in were million loss prior the million, Excluding were the percentage quarter. expenses, settlements, expenses dollars, to quarter was the due restructuring $X.X year as compared of EBITDA legal higher in absolute lower $X.X Adjusted prior $X.X the a a In revenues. of to million of by loss operating compared lower contingencies in to gain year
turning Now sheet. balance our to
strong with and million Our debt deposits of and $XXX.X a balance $X.X short-term remains sheet quarter end. of total million cash at
of operating $XX.X continued by $XXX.X quarter, net position million Our optimization. to million XXXX. cash end the the primarily third $XX.X sale during working capital of improved flow from land million the of driven at We cash generated and
The Now color contribute closure our I'd plant like continues a to few expected. of on additional improved to items. Richmond Hill operational efficiency to provide some as
factors. pressures However, the X ongoing by key offset benefits cost from are being partially
export First, Turkey on Israel affect Bar-Lev trade by restriction to imposed the our on production to plant continue cost.
for these year. While persist we have polyester, to to at established come taken alternative quarts higher arrangements of materials sources through strategy, steps We've higher like successfully input optimize this supply costs. remainder these but expect costs the sourcing and our
is our impact elevated million adding our Second, cost impact inventory. also to $X results, quarter. reflected freight begun This our costs in in to sea the third have approximately
a some lower revised factors pressures, QX. revenues EBITDA combined While rates moderation I'll headwind that our These discuss in momentarily. freight full in with expect to adjusted recently, we've seen key are remain in cost costs outlook we year these
to ] regard claims with U.S. by the made [ Now in bodily damages fabricators
to through fabricators We exposure illnesses, alleging of lawsuits, silica particles products, defendants stone engineered that several are including contracted including one named silicosis XX while fabricating in ours.
commitment defendant with and in $XX.X proactive filed Los damages August in certain by in discussed protect all million to to the Angeles plaintiff verdict, a to Form the verdict disagree XXXX, finding XX%, increase As acknowledge we case our litigated fails in a apportioned strongly Court X-K awarded our Caesarstone rendered U.S., County in safety which and in education jury first fabricators. adjustments.
We believe California, post-trial measures with to this subject long-standing liable
pursuing including various are appeal. remedies, post-trial We
to adequate verdict. accordance insurance the we U.S. this quarter in an third the During recorded and and receivable provision with related GAAP,
decision litigations operations single material that litigations have financial business, position, While cannot our will cash company, company impact as adverse a outcome not flows. have not to material the or the a on or of results adverse provide on of such assurance pending other this will effect the the
our Regarding outlook.
XXXX, XXXX We we modest now a expect continue to year generated to We by X expect levels. of expect cost year, this flow realize positive track $XX QX. entirely with cash million months from realize in annually and thereafter. on million remain We full in to the first $XX operating savings cash million in compared an for savings flow approximately year savings the the additional offset to of now restructuring-related $XX in
seasonal collection, zero QX, shipping year with in the markets, our particularly trends. in we across we to range of of the sequential environment expect Combined we persistence half Australia our and EBITDA with material costs million revenues expected full $XX $XX lower our consistent typical elevated of challenging the adjusted macroeconomic silica as an second loss adjusting are XXXX, to compared outlook transition in to Given pressures the in million. selling crystalline our QX
ahead, profitability believe call structure now With cost position we while us the to are operational as near-term look improvements to recover. open and return the we've conditions questions. volumes remain we challenging, to market our made As well to we for efficiency that, fundamental ready
