Jeff, multifamily installation million sales driven and you, to and Thank offset was same third revenue within commercial for compared $XXX good during partially the decreased morning, by single-family The the to net Consolidated $XXX for the period higher million our quarter modestly in decrease by sales, segment. quarter lower sales year. everyone. last
multifamily XX% interest while quarter company revenue third last up installation exceptional showed our As while market, industry under growth construction end Bureau, of year-over-year, single-family in we rates XXXX, were down units our construction the set the services this XX%, were the changes our up activity sales evaluate to same or down basis, to branch our have XXXX. branch difficult performance were units were same the and our year, under residential year-over-year housing in multifamily sales the on units and experienced our pipeline also headwinds sales According U.S. been for construction year In the industry comparisons a for Census in opportunity rising XX%. XX%. single-family but
volume and Although Jobin. of over to are our quarter the parts The reflect value and of several the strategy moving that behind installed focusing forecast difficult calculations on this our disclosure, have services price results quantify. our mix
multifamily due relative light increased end our continued volumes XX.X%, During and the price/mix activity part commercial third quarter, market. in the to while impact X.X%, to of decreased single-family
Our and net by margin, as profitability-centered strategy to quarter us profit measured third margin margin. gross adjusted record led EBITDA results the in adjusted income achieve adjusted
record gross margin expense points as administrative gross profit third points and quarter the basis prior a X.X% $X.XX, the to of $XXX year. an stability representing performance year-over-year record reached selling in XX.X% share percent related EBITDA to same XX% of adjusted year margin to Adjusted variable XX.X%. XXX Adjusted million, quarter Adjusted the record result XX.X% to period quarter adjusted to and period. to pricing XXX efficiencies. a due XXXX improved and and diluted per XX.X% as EBITDA margin the a third sales compared basis improved improved from income to higher of up Our net higher all-time increased for third a compensation for operating EBITDA cost last was XX.X%
the our During adjusted long-term This the margin full margins prior incremental target strong XX% very result continue EBITDA the of lower growth sales our was our in the while to meaningless adjusted incremental quarter, rendered year. XX%. same-branch positive, third same-branch to EBITDA year same-branch third than we the of were during quarter, range calculation but
For margins total target adjusted our the above range. first EBITDA of substantially XXXX, XX%, were X months incremental
full on net in million amortization points XX% we fourth debt basis more financial our rate $XXX.X debt expense Furthermore, million flow our in December approximately continue in compared our primarily sheet we year on through recent repricing million. agreements, ended do interest XXXX.Now expect rate The the let's environment, Although in million we year XX interest based and period. capital XX, rate interest to tax to loan. $XXX change operating was of reduced acquisitions income of variable would year-over-year liquidity any from until rate quarterly of on record. $XXX effective we limiting we of swap of XXXX ended recent approximately interest XX% cash operations exposure. to existing by the Also, year XXXX the an portion XXXX, these associated with The August, all-time cash and we $XX estimates future higher expense expect periods. flow have X months rate not was increase our guidance, in generated September of expect for balance XXXX, position, the to requirements $XX look a rising Despite existing provide $XX XX, approximately the with rate term detail. an full through We cost comprehensive acquisitions, million quarter our fixed we million and closed in borrowing prior at
until We debt no maturities have XXXX. significant
on decreased the to revenue, acquisition X% to the invested liquidity throughout cash and we year of period expanding well financial XX, same XXXX, repricing prior capital, which the interest working and the and debt million Our XXXX, in expense excluding line adjusted total finance combined, through Capital our shareholders. to XXXX, last quarter. to strong higher trailing continue had $X.X XXXX, third year. capital earned the leases quarter December returning and interest to roughly and $XXX of approximately rate due business of leverage With in At had which equivalents. for loan ended from expenditures we equivalents focus model $XX.X X of cash net XX, XX, X.Xx million asset-light below cash September incurred Xx. we XX-month and million million X.Xx September position, was stated is months approximately in period EBITDA modest target we compared our with cash a to net XX, September term were At ratio leverage, at $XX the on
million pipeline is each year of and remains acquisition acquiring annual robust unchanged. goal $XXX our Our of revenue
deals However, or annual being overview, XXXX, is available increase below of closing Directors as of ability worth XXXX can the first influence now $XXX calendar of for The I per remarks. dividend expect Jeff amount December mentioned, dividend XX, the move be will in share, over revenue $X.XX a certain this stockholders quarter, that XX, may fourth given close fourth acquisitions our December to on XXXX. Board acquisition to the of We to revenue a currently turn acquired year. result for targets may which in the Jeff of year plan, period. call record a on forward prior million. represents delayed approved would from which quarter the back quarter IBP's timing our backward specific which With X%
