Timothy W. Gorman
including quarter. also margins Thanks, and statement income Alan, discuss everyone. metrics good fourth we results will the details other sales morning walk detail through our the the net gross and for ended the fiscal quarter, providing the as of and year. in I I'll financial on current
upcoming for provide year the our fiscal outlook I'll XXXX. Finally,
fourth the quarter, is equal and For share earnings quarter. was of inclusive from year to the $X.XX, per benefit fourth year in adjusted current the the quarter $X.XX hurricane activity an prior
of $XXX the fourth adjusted by or a Hurricane Excluding This sales markets, of quarter. the contributed than in in our spend million promotion of certain previous in retail increased the X.X% to current included increased we the expected with growth prior organic in higher million, sales net with international sales in Both quarter. in customers, timing net were was the gains comprised changes Lithium effect holiday sales higher as portfolio X.X%. the the season, hurricane higher rate quarter advertising Distribution the related in the Improved activity, EcoAdvanced holiday due million quarter. portfolio exiting primarily $XX.X and Total and activity year and were the changes by these of with U.S. of increased increases decreased our the to selling quarter components. earnings certain activity $XX per sales growth volume decrease for including $XX.X X.X%, repositioning executed globally, impacts price across were hurricane and associated in were sales by outlook. as X%. and Ultimate million mix net net support and X.X% markets pricing and The several net tax contributed U.S. the enter share of the
We the in any at this of end have EcoAdvanced North has XXXX. impact markets into by impacts not replaced expect change been as further The exited the we of been and majority expect Ultimate batteries quarter fully move of realized portfolio and fourth fiscal Lithium. we do American year the the
non-core specialty the quarter, a the ad fourth as sales quarter with also acquisition. decreased as HandStands business, ad acquired the sales on X% the of May business. specialty X, net divesture divested non-core occurred this in associated prior-year included We which part The by net business of current
impact outlook remarks. minor from from foreign the we currency of our our impact I'll the later foreign currency. is first on comment currency a my experienced sales on benefit Finally, positive in This the prepared foreign in net spin-off. of since impact
Looking at to driven by and combined up activity activity, and by all X.X%, the impact we primarily net holiday In divestiture replenishment, of Pacific, sales ad benefits the of with of the the improved the activity, by X.X%, changes organic portfolio were growth of revenues pricing. and net EMEA, by three the combined experienced business. In revenues of holiday timing Americas, segments. with revenues organic organic XX.X%, offset improved the phasing benefits the due revenues specialty geography, in driven activity, hurricane Asia organic the increased In were distribution of holiday gains, net by up pricing pricing.
XX P&L, consistent Before the also fourth improvement. and Gross fairly turning basis in was points retail prior resulting the of prior to basis fourth lapped point the excluding margin, rest historical We based inventory The the driven year improvement quarter, fiscal XXX normalized quarter. quarter, to items was approximately prior exited made year an on quarter. I with mention compared with in year by fourth unusuals, the the investments levels. to in XXXX following of we increase trends, U.S. wanted the that XX%
point resulted associated Second, basis margin. with price in mix improved several markets and approximately improvement XXX margin improved across further increases in
basis fourth modest basis as portfolio the Offsetting improvement changes was by basis was net again noted favorable expected of full to Third, savings, XXX rate a on comparative basis. currency impacts year-over-year approximately basis approximately sales improvements to investments unfavorable year on prior compared an increase commodity our which gross XXX A&P rate as quarter. above, a points. year by a made XX Overall, procurement other points X.X%, headwinds margin brought margin the points. XXX had better which than of points impact support rate were percent of the offset to were of gross these favorable margins our slightly decreased the
spending, quarter's discussed and $XX.X costs portfolio increase excluding compared basis, prior part, this on $X.X changes costs, as in last absolute associated call, dollar integration expected As move basis XX our the and SG&A impacted, to year or we into overhead acquisition XX.X% was innovation quarter. and point cost. we million current activity, supports season. the decrease On broker million and fourth the was the was hurricane-related merchandising an SG&A including increased in holiday and an with by quarter,
prior the associated the year which full the for was return, XX.X% The from year. a from to rate reconciliation our compared provision recorded tax tax tax was book return effective with our ex-unusual XX.X% to favorable current Our in third quarter. federal benefited year benefit in
higher negative impact with the addition, In in year. tax the earnings were prior associated repatriated
Looking roughly was X.X $XX approximately unchanged generated with million it from free of all improvement the held basis. We at on our lower in substantially maintained offshore. flow balance million compared And trailing-XX current at the driven of $XXX sheet, level we of at $XX year quarter-over-quarter. month to debt ended in prior Out by debt-to-EBITDA in with the the year million $X.X quarter quarter. fourth the times a capital year last billion, essentially we spending quarter cash end cash, our
working offset from changes to sales of our with year year associated included cash during several accounts of $XXX inventory For international and higher hurricane-related flow operating strong million the compared changes footprint XXXX. generated in resulting to from receivable properties. including prior and manufacturing higher in asset performance current cash year. Free first the fiscal non-core from of innovation, full our million half year, sales The $XX flow was being increased million capital, we executed generated free the support $XXX our by portfolio
this we million. paid we In on increased and $XX XXXX. working of quarter, dividend $XX temporary, And level through year-to-date million. approximately of year as expect fiscal normalize capital is basis, We will a paid we the a move
During we million million. common shares repurchased $XX stock the fourth X.X quarter, of for
shares of we flow cash per or $XX shareholders dividends $XXX nearly stock two-thirds in during share. returned of and year share total, repurchased the $XX.XX for million In cost For free which full million generated average both million an we've repurchase, year, fiscal through to year, X.X XXXX. our common of represented the the
meaningful opportunities in allocation that our growth, a continue will our our take long-term We investing are Since approach and business and in to right finally, our for fit allocation. approach repurchases, to to a demonstrated pursuing opportunistic support separation, we shareholders capital to M&A share capital dividend a by to balanced returning Energizer. capital through commitment balanced pursuing
net the earlier his Now, range Alan to earnings keep mentioned to the activity be that turning $X remarks, and sales per fiscal that important share. million we expect to XXXX, share $X.XX. $X.XX mind we hurricane is lapping It in contributed outlook year in for XXXX earnings our in as upcoming fiscal are to in year significant of to approximately per $XX in
approximately approximately included months seven divested results sales specialty In million ad on the million in profit. of May addition, and XXXX fiscal sold year for of business $X X, $X operating which net contributed
be Before our X.X% in distribution and change lithium pricing. third remainder second to impacted as as of to our as by America. In the forward our revenue and basis activity, fiscal combined current we year revenue gains, upcoming revenue distribution how quarter, pre-tax distribution sale benefit I organic of from gains of first recorded the XXXX, walk quarter, it unfolded the benefit real gains growth resulting year will from pricing we fiscal the quarter, the achieved quarter In benefit outlook, year. the related through from execute million. promotional X% in a mix our early exiting first to and the estate, want flat X% associated replenishment, quarter-by-quarter for and recall I of was helpful quarter. look a of attributed in North prior of expectations X% growth offset favorable declined favorable as on lapping revenue In negatively the a replenishment included organic de-loading carryover the we year entirely our the X% X.X%, repositioning In with to X% which organic from and of of to portfolio also $XX.X the the early we EcoAdvanced by second was non-core gain by of was began
at on business. ad negative the of fiscal the will by X.X%, second quarter thus, of million specialty and, the X% fourth were of achieved of X international divested the portfolio These sold the X.X%. in cause year X.X%, hurricane holiday fiscal benefit phasing offset Finally, in in the operating of revenue the and impact $X related activity to X% year first impact activity negative and of ad growth sales May divested million the we change specialty benefit included XXXX. benefits specialty profit in were which negative net The business actions pricing XXXX. quarter, of comparison of and X.X%, included was of of distribution markets and and $X gains approximately Approximately of business ad organic
gains sales for expected on single Organic X.X%, expected impact foreign of including up fiscal digits, $XX sales fiscal of Favorable are in outlook approximately XXXX, reported net to year to single current movements expected our on year to digits. low to by a XXXX. net to based lapping be hurricane are net up distribution low million turning sales and activity lapping are Now, basis X% rates. about the be in currencies benefit
entire growth in revenue of growth for of three represent expectations organic separation. since our Our business growth years organic years fiscal consecutive the experienced year year XXXX. lighting Energizer's through and products consecutive back battery revenue third XXXX XXXX years. dates The to organic growth a organization revenue last fiscal would we time spin significant reduce generated to has processes business revenue our the significant several last gross accomplishment have and since has over streamline coupled to simplify rate cost, improvement improvement and, our margin continuous in organic for The been resulted with our mindset
XXXX. offset year be fiscal the With of requirements of are by respect the repositioning essentially expected from the margin XX% improved with spending covered than long-term Ultimate to current year increased cost, A&P cost, commodity timing of the and our fiscal Lithium. I our we approximately want X% note expected our acquisition also to commodity excluding range to on current consistent to XXXX. be of of timing fiscal is expected is during year XXXX sales, rate the X% for impact and different will the with that to Our be cost in year, gross year XXXX spending net fiscal pricing flat as is outlook. A&P integration
year integration We a year-over-year balanced SG&A fiscal XXXX be expected is will year. to acquisition more on A&P excluding and as expect sales flat a across be percent net fiscal of the the cost. basis,
However the comment on by year. not a foreign further Pre-tax this rates. current impacted currencies based net to $X spread hedge of be of address be timing of is in favorably cost moment. roughly SG&A evenly the I'll throughout will income the expected by impacts, million $XX to million, movement
tax the XX.X% to include country currently income on to mix expected is any in rate potential of range does This of Our proposed reforms. currently based the be guidance not impact tax earnings. XX.X% assumed any of expected
hurricane cash fiscal includes lower significant inventory associated receivable year and exited year XXXX should in XXXX. This tax expected million finalized working benefits with in million. expected outlook million, $XXX asset depreciation lower is $XX We accounts the become includes and $XX benefits The which Free XXXX. fiscal of amortization cash activity, have to proposal be to million range to with which the also in $XX fiscal range any levels. $XX fiscal We to the collected capital. accounts be is will to year been free And the improvement million. our update receivable XXXX. $XXX to year be associated of improved lapping spending in in sale Capital with flow anticipated is of expected in reflects range year-over-year million increase in flow
processes XXXX levels, complete third our we year continuous in call, strong fiscal has in year Edgewell, of manufacturing made improve make executing as investments rollout improvements to organization, we top-line fiscal simplifying continue have grow we the will further second optimization and In in quarter our portfolio on Energizer XXXX. our and our our in In results. that upcoming from including XXXX, streamlining our as the change addition, a quarter each our inventory we year MAX, organization the our of half close XXXX. the year these we up well be beginning a and cost fiscal and half a in footprint, results improved our separation bottom-line our and which manufacturing e-commerce in in to expect first business as with of ramp investments we to as footprint capabilities. of supply optimization year Since year, continuing of investments fiscal predominant performance. the our first will outlook, operates been discussed are to more business mindset with investments, as demonstrating chain Energizer The improvement included
in costs $XX of quarters. in to We incur and million each to the $X of SG&A that the reflected $X approximately first will in be expect quarter million approximately last three million
by half these costs the to year. expected the occur offset are be savings, the expected of savings second of While during majority will the
to the in and the quarter investment we the fiscal year will addition, and our are beginning In $X offset in will costs quarters. year, than expected cost $X expect expect current but in fiscal goods and XXXX. million will Those related to continuous to footprint. million our million of expected incur third $X be more approximately optimizing savings we with first There second approximately savings associated cost minimal in be to in improvement sold be additional reflected
continue fiscal we efficiency As in we productivity support business. to move our XXXX, investments to of make forward improve additional year beyond and will global
in earlier, is the timing fiscal to spending back-end Finally, year be the XXXX, year. as commented I as of expected loaded A&P as not current regarding it
first the to on will the You to during expect the to is performance EBIT incur year first digit second the XXXX of to we following realize spend, XX% approximately $X the A&P and to spending we A&P XXXX confidence by be EBIT from year sales to million are the X% the year spend, key the offset than by of quarter year approximately to the The investments of XX% first up of higher fiscal To reiterate a to XX%. million, down the headlines mid-single EBIT down $X the Based as of fiscal flow of second $XXX each expect in the more calendarization quarter half in three to to half delivering offset in and first fourth we savings half lower quarters, the be should year-over-year in cost be our in improved the by about quarter. mid-single basis, see expected on lower Full expect investments. growth begin year increase of digits. these to growth; our free share single organic $X of single $X.XX, per results, million, digits. earnings high mid to from the low digits; outlook: cash $XXX and up up million
to remarks. for would back Alan turn call the I Now, over to like closing
