were quarter Starting flat with Net X. to nearly ago, everyone. $X.X a morning, Good JT. at compared you, billion. for the Slide year sales Thank
more in the the deteriorated half complete the quarter, While period. our continued even our holidays end the through for X-week seasonally discussed, conditions had sites of midweek anticipated, many the entire than as resulted soft activity project JT as third These end last during levels in at of we quarter. almost quarter softest of each shutdowns the the is markets
that Additionally, sales we timing approximately negatively holiday net by million weather during together the with estimate the impacted adverse quarter. effect $XX winter
for of third mix which Kamco as project across Ceilings, for than product during the benefited from fiscal major categories acquisition, quarter. XXXX. the our sales the declined declined X.X% Other volumes compared other the, quarter Organically, with company and
million declines as reductions, back-of-house steps locations. several another to including mentioned, economic yard reduce and broad market further uncertainty, annualized are continuing cost expenses are consolidating JT overhead and implementing Given we $XX we in
of rate our first We expect fiscal XXXX. to these realize a savings mature run of quarter in
by will cost of we to consolidation reduce consolidating efficiencies to customers costs. over time. our removing are organizational we our processes our program, In are reduction Region many efforts, scale, addition streamlining leverage continuing U.S. also expect better region, our additional these service which and we drive and subsidiaries, complexity subsidiary
benefits to enabling metrics. productivity these successfully results and encouraging. reduce standardization, practices, early purchasing pricing the While complete, Where activities better enhanced ongoing, are seeing data and of improve us inventory and consolidation management are we the overhead are very
of number calendar the With first selling noting that, rest on that days quarter, move we year-over-year. days, I'll same third our have did to of the
at looking a total of more while were positive, our in X.X% the proxy, up markets. using sales First, development year X.X%, resulting decline revenues Wallboard residential year in commercial down revenues X.X%. U.S. as our that results Canada ago. dollars as compared in Anecdotally, organic a with are XX% country. as multifamily U.S., ago, end In were a dollar by also conditions a compared with fell of sales U.S. policies indicative pro single-family
rate by after reduction Canada, surge in As about construction in And we've Ottawa residential in in amounting sales Bank inventory. a X cuts seen of an housing Columbia, and to British total, a indicate Ontario X.XX% of reductions data permits. the market in example,
these pro could by risk these are development tariff While hamper negotiations that is efforts, there encouraged policies. we
volumes quarter Wallboard offset basis. were line price X.X% for a in X.X% XX.X%, the product led up decline Wallboard compared with volume, down the year, down Multifamily was down down single-family compared of same $XXX as X.X% million and a X.X% X.X% per an price period X.X% a last which in with decline increase The decline of on thousand Wallboard down the dollars square Wallboard X.X%, mix. Wallboard volumes were partially mix. year by a offset and comprised and feet, volumes were the sales average with in $XXX.X third quarter Wallboard sales partially Now with X.X%, Organically, by volume, in prior were realized period. volumes organic increase as commercial price X.X%. was
of mix Although basis, the marginally our quarter, on end the a on end a net like-for-like sequential down mix drove were price fiscal basis. of up and just prices second market slightly from
increases. under Given suppliers even manufacture relatively conditions, of industry announced wallboard major market softer price escalating wallboard all to our utilization cost and manufacturing capacity solid have
environment, the However, the as JT mentioned, given conditions is macro the know uncertainty and be in how term. it demand too adoption the these soft increases soon to near of will successful in
like-for-like X to for backdrop, we in sequential very for quarter. slight reach fiscal months with product fourth economic of our pricing timing are the our normal only given now, improvement For the along price X assuming wallboard increases customers, a to
reliant of metal grid steel also this space and materials, the that product-specific not to financing. including has increased largest commercial decrease as care we driven outperformance for Ceilings, X.X% top I'll health our by well. for price content are ceilings private upon actions higher-cost restrained acquisitions, products but [indiscernible] as due XX.X%, would as category projects in the centers education, announced up For activity, product expect suspension be which within These for manufacturer driven an products. volume normal price note architectural sales specialties in data ceilings were given commercial of such stronger by and mix those continued other the to ceilings pricing results their in on the and increases that
were drove a framing declined price X.X%. with of as decline down price sales framing in and volumes a XX.X% in X.X%. were mix the Steel for in XX.X% decline as deflation price sales decline year-over-year mix volume Organically, and XX.X% X% and down quarter also steel a
down was practices and sequentially, steel future expected resultant are pricing widely tariffs X.X% price increases. management drive to steel inventory While
extent because improvement assuming of January. normal of are quarter December of is are move to in However, flat and sequentially, consistent late increase we declines know as roughly and impossible price it expected Volumes sequential chain supply off increases with the seasonality off timing for over the the impact, framing. steel we to ending these the
in consecutive by of million in X.X% XXth for as commercial sales primarily offset to margin-accretive to grew representing improvement quarter due product its an decreased basis the some X.X% growth. invest multifamily year-over-year organic we Complementary conditions, $XXX.X this soft of continue category, the pricing. quarter partially and Sales on
collectively and driving and X.X% overall faster and quarter. growth tools These focused complementary insulation. the for Our stucco benefited recent and team grew particularly on EIFS from than products, our the and subcategories for remains in fasteners, acquisitions category
Now Gross turning million million major compared XX.X%, to decreased margin margins profitability. this lines year of quarter's Gross XX% points down XXX from to quarter. basis on a $XXX.X all Slide contracted X, product year focuses which ago. profit Gross the prior as was as $XX.X across in compared and of our largely and provided cost Wallboard. consistent period, with core mostly demand relatively to year-over-year driven our previously by pressure, the with margins. Relative however, prior year expectations, transaction dynamics, continued were weak aligned cost price the yielding drivers pricing predominantly stable margin level
due receive and less expected income quarter weaker incentive However, the wallboard we vendor the did during the year. towards in than of calendar steel volumes to end
and to mix complementary impact Additionally, the than our softer of margin expectations. shift negative in prior compared as to overall sales of contributed inventory products a sales the adjustments compression with forecasted further relative
which $X.X XXX insurance of containment Selling, from for the to XX.X% increased typically sales In severance despite these increase, unfavorable further the general in quarter, than primarily higher-than-usual basis million fully Of winter percentage was of other which XX disclosed items, inflationary and in from with up points the development primarily was a for contributed price negatively savings actions SG&A restructuring efforts severance for several net basis related deleverage. to costs, slowest cost development, impacted restructuring actions. changes by is in deflation inefficiencies, as reflective costs, product our rent QX higher-than-usual deleverage, overall were demand. along recent related previously were and more announced with XX $XXX.X Organically, XX XX of offsetting given points including offset structural related normal quarter. compared finally, our unfavorable holidays quarter activity in acquisitions, what operational administrative year-over-year declines principally operating Wallboard for related impacted also million points. leverage previously expense lower reduced of from greater pressures results actions. the disruptions cost operating inflation, cost to from timing with by and the claim SG&A of our General seasonally improvements XX.X% net $X midweek unusual holiday from the the the expense cost of costs, $XX.X points increases improvements expenses together year And a weather million the to expense of points reduction sales by realized SG&A Adjusted approximately prior the million higher quarter, related to with basis previously by basis $XXX.X of steel basis $XX we million associated SG&A increase than headwind Onetime points. as disclosed and also to XX.X%. weather an the percentage claims to million. leverage points contributed XX.X% XXX basis net insurance XX offset from increased basis
stemming amounts EBITDA million for Adjusted year-over-year XX.X% from the be full to this year adjusted and noncore $X.X installed to impacting our During a $XX XX.X% the business with in XX.X% EBITDA impairment in insulation expense, certain sale loss noncash million X.X% from and a quarter. range factors a quarter, recorded given charge. million fiscal excluding $XX.X increase of the nondeductibility declined XX% normalized net cash to we The the from during GAAP of effective goodwill rate high quarter serves, tax to the prior $X.X a contracting year a of million gain rates income million in higher interest contributed goodwill the compared This, net together interest business softness expect other We economic and of the tax net the we still $XX.X accounting income also acquisition the in $XX.X recognized markets given impact million of deferred decreased period. margin XXXX. tax decline charge. the the to other of rate, our and
to the On Now of Slide XX, sheet of balance had liquidity million our cash credit under revolving we on and million hand continuing $XXX.X facilities. X. January $XX on available
and of with X.Xx coupled acquisition Yvon in of end Elliott, $XXX.X and our for ago. year-over-year was repurchase the an compared year activities X.Xx Kamco, R.S. leverage quarter. increase net adjusted the EBITDA, activity leases, quarter, at the by $XX.X was up Following prior year lower operating along from the million quarter with in capitalized share to equipment million a provided Cash the debt
was EBITDA ever We we've compared for performance also which adjusted highest XX% free metric million, quarter. which over our the of the since million, quarter flow XX% had a significant third cash of generated This was quarter, of level prior the level EBITDA $XX.X the of in this COVID. of year adjusted of start just to for $XX.X
fiscal year free XX% flow XX% full XXXX, adjusted now the cash For we total expect of EBITDA. approximately to to
on nonoperating in a We of the million $XX.X an business. sale flow also, cash additional insulation the installed from basis, generated
We ago. expenditures for million a compared fiscal to the capital million Capital for quarter were year expect $XX will expenditures currently million $XX to XXXX. the be $XX.X approximately year million $XX full
fiscal our million $XXX.X from January of at million XX, an At repurchased $XX.X stock share was third of During authorization average of shares there per share. $XX.XX remaining. price quarter, XXX,XXX we repurchase
maintain the long-term shares, pay transactions growth conditions ensuring favorable to Looking as the opportunistically M&A repurchase business. capital market intend we continued while forward, invest expect strategic business, help in drive in we down debt to to continue complete to balanced and allocation to approach our to ability our to leverage
call over start With that, I'll who back X. JT on to Slide the turn will
