on joining Thank you, everyone, you, for good Thank Mike, today's call. morning. us and
sales the very another strong achieved quarter million. $XXX EBITDA We million results, quarter with and of adjusted second of of $XXX
is through Importantly, pressure that have expansion. row we quarter of quarter a a in cost margin fourth the row pricing covered in in favorable the third this
uncertainty. deliveries, and as year-over-year land shaping ADS the agricultural XX% market markets, is markets. priority Products. the growth. in a grew across broad-based and agriculture end volume residential agriculture good growth In that in ADS to construction strongest The ADS end Sales homebuilders geographies business business, loading and we for develop states level season the The of supported growth residential strength was continued a job Allied by both our despite and up in continue fall with did occurred
in and still long-term, story. market. to ADS in homebuilder growth acquired residential the previously lack available over the participation drive material early continue land of expect on continue supply will home in market conversion We this is the to the development land
company. growth a opportunity for the pullback, large remains residential despite So the
the on sales that are land development side being choppy. we What see is
areas Some Northeast, Southeast Atlantic orders to project like other and Coast, the like areas the beginning In strong sales, the are remain the slow. and Texas. identification
development where land those We development are in is focusing business continuing. geographies efforts
continue In where develop cost, to proven a the linear installed national installation, winner. feet proposition, a ADS safer faster, deliver homebuilders and the job trucks value site, regional fewer the we is addition, with and to required programs to sustainability better
Infiltrator septic The share revenue tank points. market grew this tanks increased quarter. and add as materials continue to traditional double-digit business plastic we distribution gain X% against
capacity that still this We are new investments backlog, online have year. the come working leveraging down that
lead times In backlog field our time. customary as well normalized the historical product are The uncertainty market destocking second products, about is quarter of led availability and the over that to the distributor and as second residential half leach better partners less expect. customers lead with times concerned performance as distribution are Infiltrator now lead
site maintain to business results. to ADS because important the the is delivered the Both well-positioned story drive job stocks distributor material by to directly is septic to of impact leverage price on-site destocking in products delivered ADS conversion note whereas are are ADS business, when the from above-market trucks. and companies products It are compared the to the larger Infiltrator
state quarter; during the Ian central shipment significant week southwestern more in the Hurricane and parts threat the portions the sales Florida, these In volume impacted of became is in the portions of terms the note hurricane state terms the last as are since decreased Other Florida XX% is for sales Florida in in This rebounding. are of of important the slowly largest normal shipments. and of of company. Florida to of
to the installations through QX. the as to the opposed recovery prioritize as we in near-term fiscal Florida We expect contractors in project move stormwater Southwest efforts
downtime and supply were facilities Importantly, the with was minimal disrupted. and impacted not back and minimally raw ADS Florida material ADS were running employees up
If to out, according and played strong in overall I back volume August. and July sales take at step was quarter look plan second and the how a
The first September week of started slowly.
week The that second and would of Florida, when Hurricane and September, third In fourth August considerably. shipments Ian the apparent it strengthened to became week hit July slowed pace. down
So we a September October of overall months volume with are the first good did two an in quarter. see degradation pace shipments on after September.
Let more in this that midst context and right some of inflection me provide now. on details the are demand we
Northwest, First, where year geography. and Pacific to pauses believe more was difficult during the In of through particularly summer. and other had Coast, pandemic. second period year-over-year that including Atlantic elevated activity Florida, areas last Northwest, Northeast the comparisons We the there areas, had by due activity construction in reopening. regions the and half variability which is southeast, We in like the dramatic Northeast began years was that the in like The XXXX favorable on XX-month this remains like late activity one-and-a-half track. compressed and a into of
field leach impact Infiltrator we was distribution more quarter. than destocking approaching at dramatic in at past chambers quicker and Second, we this believe We of of the that end end anticipated the of the of Infiltrator the as are destocking the October.
The been Next, Infiltrator. inventory down ADS a the we backlog resulted backlog working at and levels in And both in due backlog we and geographies, put to now of most the Infiltrator pace at times the a that can order normal and lead and in capacity in distributors. systematically slower place we is normalized bills less shorter has result the provide position. products have
by a customers this In market distribution. products in slowed interest for addition, has rate uncertain are are conditions rates order and environment, about rising that stocked
year, second the continue point. to As is rates inflection a interest the and rise. of seeing we into uncertain Demand move we market half are
adjusted improvement seasonal of favorable conditions. second adjusted like and EBITDA to control, pattern activity more guidance. were pre-pandemic able and due Additionally, a the are hold revenue pricing we accordingly We in half costs, guidance material seeing normal raw we cost to
greatest returns provide and support and the We in ADS manage costs will initiatives programs. continue to focused the investing on growth stay that
fiscal regions and like high-demand such in are plan the XXXX, Florida capital we Southeast especially company, As businesses. and of areas high-growth those such, Infiltrator high-return, moving forward spending and as for with the recycling
industry-leading to we corporate on ground location, and one engineering technology This our Ohio, material facility. into new in Hilliard, broke October, the product manufacturing center one engineering headquarters. and in in purpose-built development, solutions world-class America. Finally, and life together This expansion science ADS technology brings sustainable center near be in and will quality engineering the advanced in utilize material team world, center stormwater to communities recycled and our science across technicians engineers, most of enabling engineering scientists design the plastics North improve that of
sustainability. building the be also will supporting techniques utilizing We lead commitment ADS to
making necessary manage to through business the pivots is this point. the inflection demand are Though we uncertain,
and construction. into as business leaning the are of land well the remains warehouse We development demand areas where the strong, as residential data center such as
price/cost expect begin as particularly inflationary to We pressures level to favorable, an remain off.
will environment We strength current in in this continue business do that exit We both to also related The investing intact materials conversion sheet extremely of Infiltrator the balance stronger the an remains we competing generation profile. the story models. competitive and with and cash position. the in to ensure a business we healthy confidence ADS have
on opportunities financial in both very are and organically the good arise. to need right do, We position should what to execute we inorganically, a
results. further With that, Scott to Cottrill financial I'll the over turn discuss call to the
