also everyone. XXXX. well setting morning strong and Weston good for us and Lamb the fiscal to finishing year I want team Tom up Thanks thank the for
quarter. with our more of $X.X or $XXX our begin fourth to range were for under at That's prior of year versus million targeted than the the record up Sales Let's high results. a XX% the quarterly quarter quarter just billion. end
amount of the million strong million range increase from The end pricing EMEA About $XXX to of and was EMEA consolidation high reflecting the benefit actions. of above for quarter, $XXX the to targeted is our the Argentina the million operations. attributable a $XXX
each sales to acquisitions, was Price/mix and cost input of benefit in we net XX%. fiscal pricing taken incremental as XXXX these Excluding from our from segments business manufacturing XX% actions up counter continued inflation. grew to sales across
in actions expected, or largely in that more second delivered quarter and pricing from third all As XX% we decelerated the as taken price/mix increase in quarters lapped our we fiscal XXXX. the sequentially the
rates to transportation from year-over-year benefits rates customers no in we received decline the match as we our addition, to these reduced freight In costs. further charged
price/mix, a so for their to profits freight our costs that is we soon to While is transportation expect match neutral headwind will our these on become lower rates effect customer goal our over year-over-year time.
factors. Our overall four sales to quarter volumes XX% declined due in the
and certain was The product our our to primary first and lower-priced our effort Domestic improve exiting across strategically continued portfolio. by driver customer business mix and International lower-margin and
US. and restaurant and tempered full-service casual the effect in pronounced had of traffic Foodservice that Second, the segment's segment on demand volume a in This the in decline our drove more dining much despite quarter. was softer
chains supply after inventories levels international derisk began high in their during to markets right-size customers of certain the Third, carrying inventory unusually pandemic. to
products, lowered we fourth, label retail of products shipments delaying to produced that behalf. of large right-size inventories And certain prices on temporarily customers their private
acceptable realized product some inflation-driven branded addition, In the levels past response in that year. the implemented pricing we we over actions to volume of elasticity
Moving on sales. from
Our from was nearly increased to to $XXX the million. excluding than of million gross quarter, attributable About profit earnings in comparability $XXX incremental the more items, increase XX% consolidating the EMEA.
improvement than offset our pound driven chain pricing lower which the actions, productivity legacy the per and and more The remainder manufacturing volumes. of supply higher impact and by Weston cumulative in mix of benefit Lamb was business, cost input
increased on the to the Gross XXX margin basis, basis margin acquisition. XX.X% year. EMEA costs rate the a somewhat in dilutive was points inflation high single-digits the earlier double-digit on impact up from more than pound per easing absorbing Input of despite
price for were labor, due increases open crop edible a The increase ingredients yields in from in continued XXXX the the contracted poor higher and in and potatoes the market batter cost significantly oils, of for per largely cost in by America, XX% North driven potatoes prices coatings. again energy, to pound increase for
planned some of lower our and reflected facilities; pound coverage some extended we of consisting in primarily Our finished bulk per due obsolete production to reduced cost did downtime inventories, increased as write-downs also maintenance throughput, and cost goods. for fixed take higher of
the SG&A SG&A from with by the three consolidation was $XX increased driven half Our other increase EMEA, to incremental comparability expenses, About million. million was the primarily half of $XXX while factors. of excluding items,
and to improved First, expenses higher operating due performance. compensation benefit
an infrastructure. as expenses our historical Second, increase segment related restore support to higher ERP we levels. million improving third, expenses our branded and Retail $X And to and promotion advertising our IT in products in behind
$XXX to profit $XXX gross Adjusted XX% million, increased the with or million EBITDA, joint driving and sales including growth. higher ventures,
and the Global Moving to from the $XXX XX% incremental our the were Argentina acquisitions. of and up sales our EMEA million in in Sales segment segments. quarter included
benefit increases effect sales, actions in Net acquisitions, previous Price/mix the which domestic our price/mix XX%, largely two is grew to pricing reflects the took the quarters. increase carryover the that comparable in and third quarters. fiscal in The and XX%. of the excluding up was international second
lower-margin and certain lower-priced XX%, in domestic international declined certain inventory mentioned business Volume primarily of reflecting markets destocking the impact the customers by and international earlier. and and I and exiting markets, that
Global's benefit from margin, More above productivity, was volumes. which the increase product of higher Incremental the more pound of million. drove pricing the our actions, supply excluding earnings than comparability per mix target lower of for about contribution improvement chain remainder the cost offsetting increased items, and the than increase. from half and cumulative was $XXX EMEA, quarter,
from the first Sales versus that realized quarters our the deceleration the a fully in fiscal healthy Price/mix was our posted Foodservice first of tailwind three the XX% delivered lower actions and that through segment pricing but taken XXXX quarters, year. we grew XX%, no rates. in than we through lapped the as X%, up notable transportation a three we XX%
we As in the see in quarter, implement modest the had so that benefit in to fiscal more a impact increase we'll through only early May XXXX. come expected, price began
and attribute which we most down with decline realize to is continue were of softer dining X%, quarters. to full-service of of volumes casual We business. the some the traffic, exiting lower-priced prior although consistent and impact the Sales the restaurant impact also three lower-margin
about fell the cost decline higher volumes $X mix per the more drove margin Lower of price contribution impact offset pound. than million. product higher Foodservice's as
input cost across pricing Sales that label in branded and our Retail actions to portfolios February to XX%, private inflation. implement by began in driven we Price/mix our counter segment increased increased XX%.
remained XX%, historical category largely I products. the reflecting below Trade challenges for earlier the support levels label during fell described private demand. that Volume quarter given
expanded than percentage the product increased actions to cost per the mix past its basis XX%, of benefit nearly contribution as Retail's over more more pricing $XX points years higher fiscal improvement and couple margin margin than offset pound. million and cumulative from XXX
our to Moving cash and position liquidity flow.
solid balance a our We quarter no a continue to and maintain leverage million We of liquidity billion about with ratio. with the ample $X ended cash revolver. sheet $XXX borrowings low US and under
is Using quarter. $X.X includes ratio our EMEA's on earnings, basis, EBITDA at times. nearly the which of a debt end quarter billion net leverage was the Our a fourth single X.X trailing only of XX-month
for creating shareholders. remain We on our value focused
remain our as priorities share capital to growth we shareholders long-term as offset continue to Our and dilution. to and well dividends in allocation investing drive the business prioritize through management repurchases capital to same our returning
In which operations largely the year, about fiscal from year. This from XXXX, processing is cash up or $XXX continue Capital higher as we largely expenditures due we generated to increase last million expand more $XXX construction million, of million prior $XXX were is above capacity. earnings. million $XXX related to costs to than
year, of $XXX to $XX million share cash and the more million including For we in million shareholders, $XXX repurchases. returned than in dividends
and to cost will outlook. demand. targets macro year. our our We're our for restaurant fiscal we challenging, other and that the with operating to continue inflation anticipate environment traffic, turn a structure, financial let's affecting XXXX Overall, Now, to taking approach be factors prudent the consumer
to we will expect new specialty and in late constrained puffs and in capacity fiscal China produce addition, Idaho our varieties, cuts, form until coated XXXX. such remain in become fries, hash our available In production and as chopped browns, facilities
the to long-term growth billion. sales acquisitions, first which billion billion $X.X the year. transaction $X.X For attributable to targeting the excluding of of to incremental of sales sales sales net EMEA mid-single-digits. X.X% low And $X billion of includes the X.X%, of our $X.X algorithm to are to we during quarters is above three growth, year, This
included XXXX, last the Note sales in year's results sales our sales that in when fiscal baseline began of we calculating our EMEA's quarter are to growth. those since consolidate beginning fourth
acquisitions, that cost as we actions, including of well year input to impact We largely take expect the excluding to both any inflation. in may taken be by growth, XXXX sales driven pricing counter carryover this actions as actions fiscal
initiatives. as our also we from deliver revenue favorable to benefit product expect management and mix to We customer continue growth
level while from we Outside be at customer XXXX. to contracts any we inflation of actions expect the we've a of Global have those we future the will that experienced more solid as expect Tom yet priced, As do segment not line contribution same be input noted, fiscal actions pricing past price, expect our in rate in years. fully the cost largely pricing two than in to with what modest be fiscal
to price costs. In we to addition, rates to we as that adjust lower serve rates a transportation headwind charge reflect customers likely will freight continue as
will pressured earnings, to has lower-margin strategically we XXXX, and fiscal efforts across by proven to mix by domestic continue product we our opportunities be In exiting expect to beneficial ongoing volume, lower-priced channels. acquisitions manage to continue to excluding certain international and see and strategy business. be our This
taking two cautious we're reasons. approach demand for addition, consumer In to primary a
months. over restaurant held full-service First, few well, relatively in while up traffic past the traffic has have trends dining QSR and the US casual softened
from Europe, the programs of Second, temporary support health place food government forecasting other put away demand our macroeconomic has the assistance for consequence the the home, headwinds. in due of and difficult inflation, consumer and in trends, become employment markets conflicting other consumer and US, data increasingly during pandemic, to key as a about the especially of expiration
prospects Despite long-term we health near-term Global capacity these committed people, in and the and remain the factors, investing support and operations growth. of we to in that confident remain our category to growth production
historical in crops the expect are assuming earnings joint Using million of XX% to this $XXX For of billion averages. prior or than line range including we growth XXXX, unconsolidated in year. adjusted midpoint our ventures, potato $X.XX of $X.XXX regions growing about more in EBITDA billion, EBITDA, versus implies fiscal the primary with
it of XXXX up of rate run than another $X.XXX half annualized it's way, more million our at fiscal billion. Looking $XXX second
we Weston growth EMEA earnings largely acquisition, be incremental earnings our expect and higher benefit from to addition chain by driven will and as we the supply improvement profit mix sales gross from actions, Lamb productivity. In pricing
up million, the increase will profit targeting expenses. that to SG&A offset higher and million of projecting which We're be SG&A $XXX by $XXX is gross million. sales We're in $XXX total about partially
amortization addition as to upgrade year, benefit service and assets ERP with associated compensation the EMEA intangible the place increase higher costs and of operations, our infrastructure, systems to expect acquisition, attributable reflects increased support growing our increased to expenses and investments our to to consolidation In EMEA to in the headcount of incremental business. information during the we ERP well due non-cash inflation, investments largely as
to operating addition venture our targets, our joint which Minnesota RDO million. In to equity includes to million we be $XX expect earnings, Lamb Weston in $XX
previously and other to million construction expansion as We we new continue expenditures million efforts, system of ERP expect $XXX capacity of well with IT capital our capital as $XXX associated upgrades. announced our as
billion we're EMEA $X of to including targeting $X.X billion operations. sales consolidation outlook, the of $X.X $X.X sales incremental So, our XXXX attributable of fiscal billion, to to to billion summarize our
excluding with our and due of and to sales be We strategically customer expect volume demand. manage by price/mix, driven view our mix acquisitions, efforts growth, to ongoing pressure will largely cautious product a
And joint XX%, an finally, our we're driven EBITDA, the targeting ventures which largely adjusted of gross guidance, nearly $X.X of and using of profit and midpoint sales by increase unconsolidated is growth. billion including
mentioned, the our segment Tom provide our years weeks, coming new XXXX, consistent we of financial operations and two as last the International. quarterly information North began as fiscal is with XXXX, structure, recast two that managing reporting for Lastly, XXXX the including XXXX, business fiscal America years. we'll effective and In segments, for results beginning
closing back with now let And Tom for over that, some me to turn comments. it
