Good reported cash market results, achieved with we everyone. of Curt. after million, restructuring. in margin We generated million. flow Pactiv merchandising EBITDA and reduced morning, $XX of strong relative our you, free closed, debt, quarter. We Evergreen the milestones Yesterday our Thank quarter to including solid beverage expansion important first $XXX second adjusted
journey performance current Our well industry our cost seasonality, our Throughout across improve disciplined persistent environment the continued of the been control more multiyear uncertain and across our on has impact and the first headwinds the the of spending. the to consistent environment productivity. year, as quarter in reflected waste half and organization, consumer we traditional the theme adapted a macroeconomic as to to the eliminate return inflationary
our results despite demonstrates, second our the headwinds. solid As strategic these on performance to priorities deliver quarter and company continues execute
our session. key structure. a provide moving updated before will segment call restructuring, also of including reporting I outlook today's Turning and to strategic of will an second brief beverage Slide XXXX new X, with I our an our update John detail merchandising on the question-and-answer to priorities. discuss in a our quarter then overview review I'll results start cover
Number the to CEO two just for as years. company Moving the over Slide been with now X, I've
come far and We of few acknowledge challenges we've take a the to had the launching wanted transformational we have successes I faced So, highlight to over we since journey. how some far that moment last on and really of our reflect organization transformation. years into the over. said, made is puts proud early of journey great has slide the our the That in the This extremely from stages we transformation perspective. strides the are
Our proposition value remains same. underlying the
the deliver to We in and sustainable product place, broadest expand our have unrivaled anytime. and any production with us product the markets with positions categories our distribution of that offering core allows in offerings any substrate leading our product an most to to and footprint commitment
the attractive company. some the them growth. and transformation a long-standing result, uniquely with core fundamentals transformation, These the on And underpin needs To we've beginning over come, With partnerships our our to free across customers EBITDA to a positioned the years of and end years, meet base markets, of changing at cash on the relationships customers consumer. generating far are capitalize global built favorable you proceed with help brands were perspective blue-chip into strengths as our to propel profitable will to long-term that we've with growth we the flows provide of how the come. we
paper were our operations. somewhat operated independently. plant from decentralized, time, At fairly integrated mills same to and vertically converting are the We our operations
the best-in-class we and private transformation. number of in and business initiatives Lastly, strategic execute profile, best to an had previous reflecting is the elevated position this leverage company implemented structure. we've net a operational What team to us built put our strengthen a
right we already in side the areas the we've of still some On are are some achieved you'll which in flight. slide, moving of what through, see
necessary attractive not to returns America, North investment our for significant we regions that generate to focus have have concluded paper streamlined capital are businesses the organization the best shareholders. and our mills shareholder of require drive and on positioned outside to that We We scale the do value.
reduce capital-efficient resulting the focus compelling we made our not to for were stakeholders. decisions areas. that but These more decisions, So, the exposure profile in we our strongly is more business in believe these easy
and drive to continuous improvement across waste We chain, reduce of excellence also and enterprise. created centers engineering, across supply logistics, the manufacturing, finance
and room we productivity significant Cal going course and still the are and trend to efforts stay We've performance XXXX. reaping sustainable to a journey, of increase have brands into Evergreen. sustainable efficiency highlight of is central Pactiv they XXXX. have today This in our portfolio for those increased in acquisition those Greenware transformation, exposure product on begun and to our gains. Operational XXXX benefits offerings contributed already additional and we like have These Fabric excellence packaging our We're of advances into invested our very our important product ongoing our because efforts. the of brought over acquisition to and component to consumer the with
pace low Xs of four by line in ratio. the we to the year. Finally, under the be to be year and our have end leverage next significantly on have reduced net sight times We're of
if The we of positioned all made a resulting put But together well drivers. achieved profile I and leading and all believe our course, in that favorable it's capitalize in fact that has this wouldn't many put to Of that impressive explain growth successes doing product growth to we positions the business celebrating didn't this strongly in us in foundational remains all the the we profitable the important proper to are drive in be context, milestones. order our possible. on believe secular to all have work to company future. categories best this almost position our the of has
I'm to know to who when Slide X. a admitting need addressed. me building issues about about brutally organization. I'm that turn be very winning honest know Please high-performing Those passionate
values purpose, to For with and it's ground the stretch we our our strategic our mission, beginning Pactiv effectively Evergreen, reimagining a are not key initiatives. through and up, say that from company extending
packaging a foundation all aspects Firstly, the we for and purpose, had compass it's better common the of organization. future. our we to do, everything our reestablish It's for
an our they recognize fabric act the to are as areas resulting Together in improving business. into organization high-performing ultimately our accountable in these culture with adapt foundational values and of of purpose, entire the We our Next, our to results our beliefs buy business. all needed the very DNA. build
a and single belief springboard employees, day as for a great great future. our and make and our family. our efforts, through Evergreen our Evergreen This make beyond around those can We using this we for making world is efforts our products Pactiv this better Pactiv For a is goes us better purpose neighborhoods, communities, brands. business every better our customers far that joint
purpose of organization. truly heartbeat reinventing great goal the ultimately with business From initiatives an strategic an key becoming business. unlocking as this Our of full and inspiring focused our potential there, is winning Evergreen’s we our define Pactiv excellent
across are to flow of has eliminating are lower aspects excellence our balancing and our of job years, really effort overall all two our journey productivity scale our network. our demand managing everyone plants conditions. Today, downtime, We embraced particularly value to the XXXX, towards across as been we better the equipped better of unplanned stabilizing that market the focusing board. facilities. operational our a products within past excellence, operations our optimizing equipment and agile and across the schedules by effectiveness, recognize better levels, We've changing seen Over started and do we pillar. with organization cost higher a has production In needed within grassroots of on leakage there our more
our EBITDA last EBITDA have perspective, been would of put to year without these in To a from adjusted $XXX million efforts. adjusted into $XXX possible journey million this not XXXX
unlocking have these as deal Evergreen for significant is of to for in applying on value great that made progress growing the improvements springboard platform Pactiv our future a With focused and journey, opportunity creation. more we foundation, full to our potential. this are have we the continue While exciting we part that a now serves
year of isn't touches all strategic levels implementation investment standardized leads as a aspects our accountability it production the measures of really list next The of management institutionalized warehouses, plant, facilities PEPS this philosophy across It of Evergreen excellence. facilities X. This Number efforts practices all and just and in the goal across everyone's an of improvement. company's that short, drives also our kicked while Slide to best System, of centers success of the through eliminating a operations. into also our of waste. PEPS and performance standardized inspiring the with a continuous PEPS. to it's is and organization. our system whole manufacturing promotes road off our journey that consistent Moving Pactiv phase In all a known It method, Production map
success measure overview XXX excellence and requirements care, the environmental adherence a supported of as elements, the least and by to raises quality. for documented including of procedures health level policies at we adherence journey. it continuous PEPS, as our practices EH&S safety, elements called system management. for score requirements, and the slide requirements. key PEPS and of bar to PEPS expectations are must a chain our to of increase with certified, of order plant share people, opportunity certified, and where supply well improvement, the certification of provides an how six demonstrate quality, PEPS' become consists in we This PEPS XX% operational total With concrete directions plant requirements. related and ability In the Each replicate are and improve with we These the the implementing operational elements asset XXX% for across an PEPS each that best becomes organization. to the
happen certification As full all to this multi-year five everyone to And starting the of must we it a of you unified can achieve any a that with commitment our recognize see, bronze requires as diamond. concluding this to bronze move PEPS should facility is we with From plants I system. certification. diamond, and have total production stress effort a doesn't a We from at level also overnight. all levels, of
XX certified With are to period path certified by time, by of that of accomplishment just first of build first XX% of their is This those momentum we a formal and facilities short in very assessment, the completed hope months of operational our eight of is have reach have year-end. having PEPS total on in critical brand locations plants the PEPS plants a excellence. tremendous to three all XXX% have goal and in completed the and the next that gold to out silver which self-assessments, certified We year by XXXX. next six hoping status year our achieve will before that site the of production XXXX. that, having step And six our program. by said, Within five we anticipate sites rolling first of the the XX, first and to achieved their have
excited early about still journey, the are this waste but We will organization are scalability in improving we're significant, facilities operational improvements terms elimination our at impact of the and the throughout in and in our PEPS the operations. the have
X. Please turn to Slide
our on our is to Another highlight to team, execute team that which continues goals. like sustainability I ESG would
As XXXX. made a people reminder, our sustainability goals, trusted revenues goal ambitious of develop of our partner that Beverages a renewable sustainable the ability products planet, We've by products journey having communities. our from using solutions to of of help and our recyclable XXX% safe, customers deliver and while Food or provide meet innovative sustainability set missions materials their our evaluating An for enabler net making sustainability supplier convenient fresh, coming choice. our important and us a them and is
customers In effort an we cartons make formats that our our have products measure alternative beverage compared studies the commissioned less help to to overall impact study currents found we of buying to fresh our educated environmental two decisions, impact. offer. One several environmental and
with content with [ph] lowest Metrays product our made seven study the different environmental a overall from impact. recycled other versions show The materials, the customers and results our that offer compared
year, that and achieve to stakeholders we on our significant with most other know submitted step key Perhaps in we've earlier these and executing risk report taken is financial increasingly our this was our released matters. related regulators comes transparency and along week. when Second, disclosures which find you'll our plans to CDP last are we disclose climate-related disclosures, risks, disclosure, the climate-related finite just are to investors, which it identify emphasizing greater
beverage Turning achieve we restructuring on from to schedule, we remain XX, milestones and on our to merchandising pace to that outset. the the Slide progress communicated operational continues
in capital-light this operating on resulting streamline flow of in to cash XXth, a Canton which Falls costs reminder, more ceased first increased lower footprint to on quarter. generation. is both and operations, a discussed free the the of at As Mill ahead May operating an We facility effort our previous operations was structure, successfully our focus that physical converting Olmsted which guidance supports in an we
Pine definitive review We well. Bluff strategic for a the do Waynesville not of that to timetable as We on this balance status the continue year. for We this of to provide updates alternatives review have process. intend and additional throughout
has businesses $XX previewed we and cost the the I'm a as requirements. CAPEX impacted quarter. Food reporting million have and our results position Food streamlined from the Beverage of been Lastly, and we along effort these way. Merchandising this in in the and on taken achieve for achieve from first the are excited very segment company's new of expected result operations tremendous Merchandising a everyone's dedication, in as We to Beverage employees, in hard work rate the in pace benefits particularly results, all competitive XXXX, of this quarter commitment, remain facilities our us enhanced and combined, are now employees important the lower Merchandising and restructuring the proud we Overall, it milestones. the about to run help continued
Turning XX. Slide to
our Based segments Food results, our XXXX our remaining more Merchandising combined each businesses and In for provide which reporting Beverage consists accounts Merchandising of have and reporting company revenue. one for slides, we consolidated is revenue. that on Beverage following and our of detail. businesses. XX% two Food Foodservice our segment in Now Food Beverage or segment, into Foodservice now XX% new Merchandising segment segment Likewise, I'll consolidated the the and overview an accounts of approximately the our
legacy the fresh These and This business our segment, combines beverage beverage processors new broad as Food agriculture, of XX. CPG as food product stores, Merchandising businesses egg, merchandising our which serve the with our of beverage shows from Slide filling and companies. well and an grocery merchandising equipment businesses. meat, overview lineup Beverage cartons
that to Food changing segment our drives from growth. expect and behavior long-term Beverage benefit We Merchandising consumer
top our more companies of address convenient fresh and Consumers Food prepared strong healthy meals. the increasing of support meat ten in also the for desire the U.S. nine lifestyle. market consumption and of well expanding and customers, in grocery as fast, active a eight We're are ten customers their of to and specialty including food with largest retailers the of the proud produce extremely the non-dairy are of top fresh, consumers' as position Our Beverage proteins in offerings range and U.S. beverages
Food and segment, distributors, service produces institutional containers, like airports, outlets hospitals. are of overview Slide our Service channels which XX and restaurants, Services and food chain food schools wear. drinkware, tableware, includes food primary Food stores, service an convenience
capitalize Foodservice delivery tailwinds takeout, habits and as We pickup, convenience segment curbside restaurants as our such facilitated the to expect e-commerce secular eating of as well on consumer expansion by benefit that stores. changing and
features. products sustainability better Our with food are towards also customers and service trending performance
value for to We drive incremental business. expect our this
proud are customers to categories groups. aggregate, the QSR largest product a including many of We across supplier be in top of to four our the our
the supplier to line over Jon? in the top second for U.S. In With like now segment would are discuss including a detail, to call addition, exclusive results of the in items our quarter that, broad turn distributors I performance. we our branded top Jon to
