Timothy W. Gorman
update good fiscal discuss quarter, everyone. XXXX. to and detail and for the I'll the margins, and on morning, provide net Alan, I'll our outlook for Thanks, results gross including year providing sales financial third an
moderated I quarter, net from X.X% and for the adjusted quarter of line against increased the benefit quarter $X.XX earnings $XXX from strengthened top to rate. tax during share or would expectations million the $XX current compared the our quarter quarter to last was versus sales a U.S. For margins, in benefited currency year quarter. improved strong $X.XX, growth, lower up prior of dollar XX% million. benefit The the the third the nearly Total note currencies. as the end at all per
and quarter business creates realignment initiated the a negative by These will million, XXXX. segments of favorable X.X% revenue existing be pricing from a impact of last in X.X%, our contributions X.X% by the fiscal the improvement $X of X.X% amounts currency in favorable from increased lapping and were the divesture May new organic XXXX. actions; This divestiture geographic comparison. impact XX-basis-point negative offset from the this ASI from portfolio benefit grew at both Excluding driven gains in customers; space distribution half back
While be at non-measured our to customer, existing channels, normalized inventory space continue levels. we increased at including levels retail
revenues of at lithium, attributed segment, Looking of XX%. up portfolio net volume up favorable portfolio our optimization organic XX% X.X%, of sales distribution reported grew the the improvements. and the by value X.X% and key Americas, which to pricing, continues included sales benefit growth revenue by with gains, The in beneficiary to realignment, grow
year investments points pricing net year. up rate XXXX. points from The mix, primarily by in organic net of in several the actions due a execution prior initial also from mix. the pricing, our grew was year markets, we quarter. In prior margin up improved growth optimization up back fiscal distribution favorable rate A&P percent of reported third third supporting will in moderate and of to with currency. benefiting the half international, X% was impacts basis As from basis with XXX realignment Gross coupled gains, X.X%, to lapping our the of portfolio lap XX.X% begin the expected, as sales XX portfolio the was and sales prior from gross as quarter, sales improved product margin X.X%
incur year distributed the Our has we fiscal quarter year been to compared less during therefore, A&P year, A&P fiscal this and funding to expect more fourth XXXX. evenly throughout the during
the financing, from attributable debt benefit the and to had quarter consulting, to with foreign closing support higher million, at fourth a basis billion introduction incurred We improved and XX an offering. revolver increased the Currently, our weighted quarter, in about $X.X MAX associated on cost, obtaining acquisition amount million the integration quarter, we due included bond compared of adjustment the dollar legal, and compared integration incurred billion net SG&A, the regulatory approximately year-to-date prior to of EBITDA $XX.X of timing basis, quarter quarter. increased third rates expense to overall acquisition debt debt of acquisition floating quarter. customs million the prior quarter spending for the incurred of is was year a the in The recall, up of year year of to rate our our activities. our optimization a conjunction in and an planning portfolio obtaining cost. X%. points our which commitment of permanent portion current On stood multiple $X.X excluding Euro increased expense. expense We costs Interest excluding debt. fees million approval, million, international and and million borrowings increased SG&A and is our average the and acquisition current times. advisory prior X up sales current costs to benefit primarily the level significantly third On or interest $XX.X basis, $XX to was absolute on with of a offering. in and in integration ended net will you The XX.X% $X currency was also the As in quarter fees, we've contract $XX $XX integration with
about $XXX portion the with the had million end significant held on outside U.S. at also We hand a of the cash of quarter
third in effective the $XX third tax not compared of primarily We rate quarter year the dividend quarter. the In in the lower a did tax U.S. quarter, The during fiscal rate we XX.X% by Our ex-unusual XXXX. XX.X% any decrease paid in of effective third fiscal was repurchase quarter the rate was shares prior driven million. to for the XXXX.
opportunistic allocation in investing business and first, to that capital fit We for approach and, our right pursuing will support to share are a opportunities continue returning to to dividend by, finally, Energizer. capital repurchases, through take shareholders the balanced a long-term M&A our growth, meaningful
cash last in during call, and to flow focused conjunction acquisition. Spectrum acquisition the we free expect use the with be the closing on discussed deleverage also we from the incurred and levels debt integrating will our in near-term, As to quarter's
a to topics. cover our wanted Before outlook year turning XXXX, for fiscal I off to couple of on
impacts on our on material we imported quarter's the well Europe, cans. business, as as on costs call pricing global year to update. component and gross such than tariffs, from absent mentioned points of XXXX activities expected we finished impact raw in I fiscal wanted on I impact in impacts rate actions. into to today's input the U.S. basis tariff respect XXXX expect we of with as year the fiscal headwind First, monitor continue to minimal, steel including margin tariffs the of XX an last to the goods call, the and less On impact be provide to our Overall, be
As currently be we costs, factors, consider considered innovation. other and future, competitive including with of landscape pricing in and will inflation the currency, actions the in along tariffs impact commodity
the currency, continue bottom currencies been provide situation know, updates we a you information as perspective. results half to of both As in XXXX, benefiting fiscal and to fluid, available. the line a tariff from line will more top tailwind and have becomes our remains respect first With highly
third the U.S. for fiscal moderate modest quarter. begin the XXXX several for while net become euro. including strengthened quarter, sales saw the against headwind rates, X.X%, move half $XX.X in third To top sales X.X%. a net to or first the we Based to quarter current benefit the during the impact the was was moderation, as $X.X million currencies, our as However, in benefit on the fourth line we into currency million illustrate the currency or we benefit of dollar this the to currency expect significantly
gains deemed X, economy the dollars in highly being will re-measurement exchange losses subsidiary U.S. effective reflected rather resulting inflationary our equity. than in be Argentinian future re-measured July from being earnings and addition, in the with In
may in the peso, difficult As it the Argentine impact Argentina highly determine what financial of if upon movements dependent for consolidated our the is of highly on inflationary accounting inflationary impact accounting is any the have statements. to
not impacts to expect do be those we However, material.
outlook in not included We any item. will and highly movements an considered inflationary for such have adjustments any recognized in periods unusual accounting be our subsequent
our million the X.X%. Including interest place, swaps structure. rate in estimate will rate XX% capital million During new it where capital retain, the Term the In to Spectrum now new a to we XXXX all-in fixed Loan Energizer debt our the the to the has of our closing. fund markets between A, team a revolver. will progress debt make U.S. and facilities, of existing acquisition closing issued will comprised billion necessary moving approximately total, quarter, Euro million new cash Loan $XXX combined debt approximately in These Term senior bonds, forma $X.X B, already held our our ultimately of needed will significant and made also and with of at be of $XXX in current the We use international expect undrawn in nature interest we which to raised also the up ultimately finance to and pro subject and notes, with acquisition, cash of be acquisition, $XXX business.
million $XXX disruptive of during to are will acquired on continuity, million for synergy preparation in in to acquisition the activities our ensuring to Spectrum Finally, for and Initially, the three our ability remain focused ownership. of first we planning We closing $XX benefits closing. we after businesses. overly business confident integration be integration not activities our to the achieve continue the expected years progress
we discussed in be balance expect of three. the on and benefits synergies have loaded, will year the we to As ownership two realized more first prior XX% years and synergy in back-end calls, of and realize
fiscal turn to for our XXXX. Now I would year like to outlook
fourth the into year. change full impacts our quarter, a year-over-year are as do currency the for on we there While outlook move the not basis currency headwinds
currency The share our in to a by to XXXX Favorable be million. primarily gains impact $X.XX single impact. favorable net earnings of are from organic increased to in on from moderated to sales sales per our globe, portfolio the have and Organic We X% sales net $X.XX. storm up digits. impact the outlook reported activity optimization, volumes of driven distribution basis Net lapping range are in across the $XX including customer. maintaining approximately actions at growth of digits, are single expected foreign up of expected prior fiscal increased adjusted the to is benefit be expected now flat movements low low and existing pricing are outlook and
We continue rate gross XX to to to expect our up basis unchanged fiscal quarter. margin points be versus flat XXXX, last from year
for range be any to call, quarter's is our As the X% impact cost. transportation the current on locked noted in A&P the commodity are fiscal to sales, consistent outlook. and we long-term year, on of with of net expected our of we spending requirements our also last increased outlook fully X% reflects
way Given the our fourth quarter and we now long-term we to are of year through of for have range. lower the three-quarters expect spending committed of the a full year our the the spending to portion end trend
we SG&A move and of basis, any news a range on product We our efficient discussed, more acquisition we've level as with percent up and a to the level year. to and sales A&P As as effective down and introduction reflecting excluding spend. integration in spending flat of the costs. new is year-over-year given continue of spending expected launched be marketing net pursue current remain comfortable in will
being net income currency revised by has our on by based $XX from previous This our year of expect quarter, up headwinds current and third we current million, to been impact the improvement downward approximately outlook been pre-tax realized quarter. $XX continuous $X benefits to rates. to in fourth impact negatively million. have million Our hedge of currency now fully the in quarter initiatives the Reflecting in with expected savings fourth executed additional the moderation
account XX% of end be the range year at our tax legislation tax rate to income XXXX passed the into new XX% of calendar of taking country in impact expected mix earnings. U.S. the to of expected and x-unusual Our is the
approximately at the and range to Our the in the be to low $XX expectation range. we end of now amortization to million continue previous spending is for $XX And year depreciation million for expect of $XX capital full our million.
We of flow. asset included of to compared $XX cash free prior adjusted in free includes XXXX million million, year. cash range $XX $XX adjusted expect The flow continue XXXX $XXX from the sales million to free up to adjusted million fiscal asset to cash $X million fiscal the of million $XXX in sales in fiscal be to flow
call over Alan remarks. to turn closing like Now, I would back to for the
