challenge bit do to I owe thank stocked their kept all all and stores the challenge Jennifer who recognizing Thanks, morning. our who Good begin We for want joining supply people making working. gratitude my thanking thousands and part just you have this keep of to who a and risen us. the to chains and by comments the easier. our in Post employees
a had might expect, As strong second we quarter. you
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which release, you from saw our As surrounding uncertainty in guidance, volume we our foodservice fiscal primarily resulted XXXX withdrew trajectory.
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would First, colleagues. our the physical of we protect safety
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experience. benefit believe are positioned well from We this we to
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greater BellRing year On a the quite we get strong balance, If to you call, you have our businesses. expect detail. tune into in will retail
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it through of through declines are most at We now April. this initial bottomed cycle, but XX%
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is our mentioned, I recovery As encouraging. trajectory
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withdrew We take as lodging to why full degree travel recovery is fiscal 'XX take guidance. expect high longer heal. like to variability will and channels through This of we
and free decline in offset foodservice, expected in come is original for EBITDA from EBITDA have to in opportunities do cash be million over We concerns taxes. reduction with second are $XXX hand. we and in arise. attractive our liquidity The positioned crisis we about to spending by In any on plus cash increases close the declines entered should offensive natural the flow. will working well foodservice scenarios in retail Despite no half frankly capital capital, estimates
the we initial are about uncertainty, program. our we financial $XXX system we unfounded we In some beginning on mid-March, In we amount BellRing, cash. were million million of had suspended to $XXX generated drawn. concerns liquidity our Because These in April and drew alone, the concerns revolver. buyback excluding now lower share and
capital strategies as information strategic right the of should positioning becomes reevaluate opportunities between level our arise. to We want to attractive actions available. more defensive balance We the to take allocation will opportunity continue prudent strike those the and
And prudent been. a where greater year, a of Let This have saying are by into humane more stepped challenging but we making is up people aspects benefiting, business. in and Where on I proud we me that of have our are done hurting, close board. our tough we we extraordinary all the an this I'm manner. across are ever demands have job than decisions company
call over to Jeff. With that, the will I turn
