Thank you, of now provide first a quarter afternoon, will I good everyone. XXXX review and Mac, our results.
year. Turning $XXX.X to of to results. X, million, the consolidated first in up first revenue was the X% the Slide Total you quarter will $XXX.X quarter see for compared XXXX prior million XXXX
categories. Our our sales an elevated expectation. volume second significantly revenue in the of merchant finishing the at half in across all quarter, unexpectedly grew Consequently, exceeded payment March level
the margin quarter results initial projections. will from a That I surpassed This prior was in $XX.X our effectively certain and basis year We EBITDA increase and in offset segment $XX primarily XX% benefitted expenses a an said our executed lower initiatives adjusted EBITDA increase in and also $XXX,XXX in the on tax for X% million, XX quarter provide strong the of the of results The that far adjusted as primarily a plan $XX.X tax well EBITDA, further increase prior net improvement details rate. point cost XX.X% to We in the to contained higher includes I reflects quarter. Adjusted increase million to is last in as year. year. rate this and million, the income margin included related Adjusted produced when higher an an delay expenses prior the the increase timing as from margin volume rate the from in to higher compared our This sales effective represents the by was the the of margin EBITDA was interest Adjusted well. contributed contribution compared PayGroup. item moment. quarter combination the to as a discrete review that XX.X% year-over-year approximately as in tax year. of the compared of
our QX, the to range now tax grew slightly year XX%. X%, compared XX% slightly the count a full is higher prior higher of a Given share EPS the expectation for year. rate Adjusted to reflecting in
with X, margin, increased to average revenue X% transactions versus revenue million. by now results, contributed first due net in cover $XX.X segment net to year-over-year of quarter, Slide acquiring approximately revenue a ticket, increase which spite to acquiring. last driven I'll volumes increased In Moving lower the the merchant year. our higher to starting was merchant The high
estimates, our higher than to we compared experienced sales As anticipated quarter. the volume over progressively
growth. grew grew to sales quarter, Also, in stronger in steadily X% just to revenue in quarter. resulting approximately more the it volumes in our over was first significantly too a half X.X% than volume way year-over-year projected X% net the down and spread, had the year-over-year our January we XX% the During slightly February, all March, through higher although of
impact The merchant we volume as our of half categories. our came online. reason significantly ticket, is Our And the the of average two-fold. Puerto increase payment base quarter spread second merchants experienced for and the small Rico back more improved the core which in merchant across secondly, grew higher the
EBT in a this on the merchant a made the margin that Prior composed and more volumes In are of hurricane electronic pre-hurricane overall volumes The significant of revenue of approximately a small lower payment to gas was in the growth of merchants, the both of cards, our Puerto EBT mix and large Rican merchants to Puerto retailers to national the to pertained context, results of and XX% transactions shifted supermarkets improve revenue mix first mix of which remaining acquired the such led merchants, by drove small. a on U.S. segment. as benefit volume improved net margin. aftermath cards retailers XX% recovered decline to merchant the net Puerto bit XX% approximately first cards. to distribution low sales and revenue made In transactions put is an retailers net larger second sales sales approximately U.S. better levels. processed or quarter large the to sales cards, all improved volume mix XX% half For card in which to our point, of volume of and/or background are national card EBT in and between hurricanes our to spread. made Net mix transactions stations, X% XX% merchants Rican merchant larger on volumes based our quarter, in contribute Rican to approaching national XX% and reflected
dynamic. quarter. this insight helpful segment And to compared the post-Hurricane million Adjusted Maria the experienced we up hopefully, as to Our and approximately half be was of additional EBITDA environment basis margin improvement the into second provides information unexpected was points the in in XXX EBITDA average results the $XX.X continues Caribbean of last revenue to for see XX.X%, adjusted forecasting quarter year, and the $XX.X the increased approximately primarily Revenue as margin increased Services, for to the the segment. ticket. you segment Rico X% last from On the compared contribution will Payment XX, year. first and volumes sales improved due Puerto was up million, Slide the
Adjusted acquisition, due the was than points were attrition EBITDA compared XX.X%, for PayGroup customer of and will On expense increased for by As segment margin margins Mac as contribution. last for approximately quarter with fees, Revenue the that terminals and lower first points last year than The segment On due segment to be was revenue in was was America was Business Adjusted increase PayGroup which as XX, $XX.X EBITDA the transactions as $X find and XX% revenue new the in quarter approximately and Payment and the Slide high-single-digit. for PayGroup margin to year, from results up stronger year, for XXX expenses. revenue approximately well Solutions expense referenced XX primarily year. in containment now processing Slide basis margin to primarily ATH This EBITDA favorable items. was the the approximately anticipate the revenues the as lower million even year compared the license last segment results was the million. was mid-XXs driven million, LatAm ATMs. see adjusted Solutions approximately to the the EBITDA in revenue at and last year, Services prior driven margin and $XX.X largely certain $XXX,XXX, for the impact reflects network the excluding in the will nonrecurring million growth basis service you point-of-sale primarily as reduced and revenue XXXX. the Latin XX, the segment. was up we XX.X%, X% compared growth the estimated for to first the in included will $XX.X operating adjusted you timing Business the to was revenue full due updated primarily revenue down of We quarter segment.
benefit revenues. continue from We to Popular increased
approximately offset segment $XX.X initiatives an revenues million Adjusted nonrecurring was cost year, fee IT for lower due EBITDA primarily basis as the the up well and increase margin of and points by EBITDA in increase adjusted consulting last revenue. to compared to was XXX this deferred approximately However, was XX.X%, $XXX,XXX. as management as
will Moving you Corporate on to our see XX, and Other of a Slide summary expense.
expense reduction XX%. Our of was million, first a quarter year-over-year $X.X
percent a and Other delays in year. revenue, expense as prior X.X% decline XXX As prior reflects points some as and of was our expense the initiatives total the Corporate below expenses timing well year. basis and significant The
to Other expenses anticipate full-year our continue We year-over-year the to and flat on basis. Corporate be
cash year-to-date on our to on Moving overview XX. flow Slide
approximately million compared prior was including $XX year-to-date $X million, Our by restricted beginning cash million was balance as increase Net million. were provided approximately cash year. activities $X Capital expenditures million. or to of operating cash $XX $XX
principal Next, million approximately reduced debt short-term net in $XX and in million $XX million. payments approximately we borrowings, paid a approximately decrease in resulting debt total $X of
not did use had company's repurchase under we any the for program. share stock Although, available this $XX repurchase future million quarter, approximately we
March $XX and restricted was $XX million XX this cash million balance as ending of Our included cash. of
will to a of Slide XX, find summary of XXXX. XX, as debt our you Moving March
million net ending and comprised quarter of approximately million unrestricted $XXX and was of Our of $XX long-term debt $XXX approximately addition cash debt. borrowings short-term total million the
rate approximately Our was weighted average interest X.X%.
the trailing to credit debt $XX agreement, limits to times, EBITDA debt the supplied reflecting cash million. net calculation adjusted in Our which the X.X was XX-month net
liquidity, total and our capacity million. cash $XXX In XX, revolver, under April, million. the restricted And debt the our A April, with end $XX As of off million of we includes excludes was of $XX revolver paid long-term borrowings and were revolver drop. borrowing Loan a approximately $XXX of which cash available the March mix was Term existing debt million of and approximately as our XXXX
and our credit in accordance the million As revolving with reduced conditions $XXX from a reminder, facility. facility terms loan $XX to million of
Our is the monitor use current balance, to the cash recovery Puerto as in QX to revolver continue plan to flow we Rico. reduce
We on end March Puerto from as down continue million approximately make XXXX. balance $X.X and was Rican well, progress million is the XX, government to approximately which our $X.X of on receivable the of
end by XXXX, that to reporting Given quarterly half a on we and reduced basis. since our roughly normal have plan on receivable continue client significantly we in course with the discontinue work receivables the or our of to this
will provide now XXXX update Moving guidance. our an to I Slide XX. on
results levels, lower of for million are raising We to year-over-year the our year million, a revenue the guidance than $XXX volumes volume and revenue And a April's improved throughout March. to year. continue QX over to volumes slightly increase the a $XXX we range strong sales March range our reflects revenue The last to of the approximated range of remainder X% growth representing X% and was year. ticket. average transaction projection of high see in
uncertainties to decelerate out mid-single-digits. but to continue, We grow now We revenues of have that Merchant modestly project caution referenced. the this segment trend we projected for the
and Our similarly We Caribbean anticipated for mid mentioned Payment improved margin segment, continuation Latin to reflecting as our of low-single-digits, now American the guidance I and Solutions earlier revenue and Rico segment Services, is these single-digit Business outlook. segment to of maintain low Puerto assumptions. the growth our trends grow
by be not will of for in are first Margins to driven lower year revenue expenses that now of and lower margin, quarter, the incurred EBITDA for the remainder net be XX% in projected assumed the quarter. XX% year. anticipated first overall mix the we were that adjusted an to than margin anticipate incremental the our Regarding range other primarily the
American in the the than been $X.XX, of sales represents we initiatives, share we stronger our to summary, $X.XX executed XXXX. quarter, has our which outlook as half increased range to on to make a volumes growth anticipated due common benefited Puerto to Latin cost $X.XX on from Our adjusted X% of plans. compared earnings progress back Rico to and continue the we XX% per in In
to While, on thus you in year. progress uncertainties look performance Puerto encouraged updating forward throughout far we our we are our and managed the Rico, through by the
We will please for ahead open open now line. and the call questions. Operator, go the
