want results. also the financial continued Thanks, Tom, the Lamb and quarter entire thanking team of delivering of everyone. New another by execution Year, our for happy Weston to and off for strong I start strategies
For than increased $XXX incremental million XX% to million the was of to sales attributable EMEA from or than more About of about acquisition our increase $XXX quarter, or more XX% the the second business. sales $X.X billion. the
fiscal our We'll in we the are quarter. continue fourth results sales incremental baseline. to from benefit the receive as third reminder, business since began consolidation EMEA included XXXX, EMEA the last a those of the to of And sales the beginning in quarter year's in consolidate
the benefit inflation-driven the continue X%. XXXX the Excluding as along pricing taken both actions pricing sales this EMEA our acquisition, segments. international to from up we from taken and net actions incremental grew XX% with North was America sales year the fiscal in Price/mix in
customer carryover volumes decline continued Total of second line XXXX. charges with the in X%, we X a exiting sales lower-margin our fiscal was to freight expectations. customers business primarily Mix declined manage impact also the was about Lower of was during which strategically half to and the due as portfolio. to were our headwind. point favorable product The
low. Volume elasticities of in pricing lost the response remain or amount volume to inflation-based actions
of it the prior X% fiscal first While that largely our backfilling improvement of quarter the the business in impact sales delivered gradual destocking is inventory trend quarter. that we and America in chose to a The reflects the the and no the improving volumes Asia experienced further to year that we decline sequential from first we period, in exit. declined compared North
$XXX losses increased related derivatives to million. items gains sales. impacting comparability, mark-to-market nearly and on million from Gross unrealized Moving to profit, and excluding $XX
tempered write-off $XX for the a growth charge million gross excess was by Our potatoes. raw of profit
Excluding than half the $XXX driven more benefit gross $XXX items, the this About of million of pound mark-to-market as was in cost to business, well pricing our charge improvement this and by increase million. cumulative supply the profit as to higher comparability volumes. manufacturing Weston offset and per productivity legacy input Lamb and more which mix impact actions, chain increased and than of lower
North which increased the than bit for digits Input The other ingredients The increase by the single driven of other increases the and a largely the XX% pound the potatoes mid-single lower increase we half mid- increases in of is EMEA. digits to from from a consolidating America, batter continued coatings, earnings inputs. key was quarter. in incremental in on basis, labor a saw in for per cost were contracted first price high costs that and
million increase was from the as IT was expenses. comparability by incremental of inflation SG&A by costs. $XX items, supply and improving increased benefit largely and expenses compensation More freight of partially $XXX and with chain lower consolidation ERP to than edible oils SG&A, The with productivity related X/X the excluding our offset EMEA, million. lower savings, cost remainder higher infrastructure to the for driven as well
adjusted increasing EBITDA XX% million. All of to to this led $XXX
EMEA. attributable and profit from potatoes, raw sales drove the adjusted the write-off for of consolidating base business Higher the the the to in $XXX excess EBITDA incremental growth most XX% gross earnings Excluding remainder million. to increased with
actions pricing in which XXXX sales the effect by improvement our revenue our customers XX% took some favorable pricing channels our that all America actions segments. mix as fiscal U.S., channels each Sales and Mexico North other across initiatives. to quarter. primary in of increased this in Canada growth and continue as benefit Moving we includes taken to which sales carryover year, well in benefit management the segment, up to the driven as was our XX%, and of in mix Price/mix from was
the Lower X.X by freight increase partially revenue about offset points.
exiting in quarter. America the declined X%, decline business during X% fiscal impact the our first This improvement XXXX. carryover sequential North Volume reflecting from of fiscal the of half is a second in lower-margin
than pricing charge and a to of the favorable segment North potatoes, adjusted offset EBITDA The lower of volumes. million $XX impact million. America X% excess carryover and pound per for cost increased mix of actions benefit higher more the raw $XXX write-off
sales sales outside North $XXX of grew segment, customers of were America about million, International our includes from which the channels to incremental acquisition. EMEA in Sales in million all $XXX which
driven Excluding this taken the up by the EMEA taken XX% benefit acquisition, primarily carryover actions was last of pricing actions net favorable sales XX%. declined mix. pricing Price/mix discrete year year, and
the primarily carryover with volumes of second half reflecting lower-margin Sales fell XX% from EBITDA segment XXXX. EMEA's $XXX the million financial during increased results business fiscal adjusted of of consolidation driving the incremental International XX% exiting earnings to the increase. impact the
the The price/mix. which write-off the with volumes $X higher potatoes, allocated international included the million per segment was lower raw acquisition, of favorable on shipments pound higher excess offset cost along EMEA percentage more for the International cost the Excluding charge to markets. finished based impact goods to an than the of per pound, of
liquidity and to Moving position flow. cash our
Our end X.Xx, balance our at adjusted at EBITDA with net X.Xx leverage sheet We of up strong. quarter. the is debt first quarter our ended the from fiscal
revolver we up ticked on debt U.S. dollars capital and needs to million our to largely seasonal more net $X.X billion than increased finance Our capital couple working expenditures. drew as a of hundred
the quarter. cash some advance more year, system the million at largely earnings. half generated from operations to or year, $XXX suppliers due first than the ERP million accelerated beginning of In in also go live third We last of our payments of of first $XXX of we to half the higher the nearly
were due as to about processing to which the expenditures period, Idaho, the year half Capital from expand million first up capacity equipment is about prior construction the Argentina Netherlands. and million, primarily we in continue and $XXX in $XXX purchases
couple new we ago. China facility up of in Tom started As a mentioned, months our
during in business, October, expansions. our we capacity investing discussed our which doing we organically first with priority As is in Investor our our are Day
to committed capital remain our to also returning We shareholders.
half first more cash to and dividends our of returned than the million repurchases. of in of share comprised shareholders, million $XXX in year, $XXX we $XX During the
quarter in includes stock at $XX.XX This second we average of acted our million repurchased as an opportunistically stock on price. price $XX of the based
raised December, authorization in announced we And to a our dividend share share. repurchase in our quarterly addition, In to million. $X.XX XX% $XXX in October, increase we per
now sales and our charge EPS raised Turning targets our year and reaffirmed our potatoes. raw despite full estimate XXXX to excess write-off EBITDA to fiscal We the outlook.
billion to first $X.X billion net $X.X year we sales the to growth, of X $X.X acquisitions. sales attributable target $X reaffirmed acquisition during sales annual quarters and our includes incremental X.X% the EMEA to net our This billion to X.X% billion. of of Specifically, the excluding
to For first price as half continue up we increase the double second to with price/mix that year's last the target half in more from in lap slowing low year, the the XX% be sequentially price/mix delivered we digits, we actions. of
be to mid-single with the maintain acquisitions, We continue view cautious our digits excluding down target full the to as our we consumer. year volume, of prior year compared
That segments second said, as we chose year, the in of expect year-over-year the exited our half volume of to lap business. that we the will gradually the continue and half as trends business of the with of some each we lower-margin second in low-margin, year backfill more volume low-profit last we exit significant improve in to profitable
We expect quarter. in be fourth to the positive growth volume
$X.XX For to We're absorbing $XX $X.XX write-off earnings, of charge for reaffirming we're target a despite range our potatoes. our raw million adjusted excess maintaining EBITDA range the to EBITDA billion.
First, due to adjusted the largely range $XX previous The to also impact million $X.XX We're target capitalize more expansions. which we reducing to increase, raw to by $XX X to includes interest costs. $X.XX our reducing million as of target continue of as $XXX estimate EPS from the $XXX we're million $X.XX. capacity raising million of write-off items: million our expect our SG&A associated our to by diluted interest is operating we're our with manage to we second, potato our to range expense to a And $X.XX $XXX
financial We're depreciation targets. We expense other to our also updating and amortization million a by reduced couple $XX $XXX million. of
to million our to capacity for We expenditures to target $XXX estimate expansion up $XXX million, account million million spending timing also to previous our of $XXX increased of capital $XXX for the our project. from
or North me call the of At manage back ERP quick America give we our highly and inventories, with full some that SAP. that the Tom, turn cutover bumps the customer over central usual but these warehousing, our implementation. business impact expect update operating projects, to on of payments, a transitioned material large-scale to on have supplier invoicing Before fiscal third I associated will you in let shipments the experiencing don't results. We're a systems our year quarter, challenging our beginning customer
planned the challenges financial impact live a estimated shipments and of warehouses targets, finished the the at our due The downtime followed third-party our pausing cutover. by short-term gradual in to increasing and period including reduced production XXXX of inventory immediately production the go visibility our goods ramp-up at fiscal impact following facilities, is systems in of included processing
visibility of cost coverage inefficiencies. to But third in third strongest, With the as year-over-year our affect typically will increased a margin, third-party inventory earlier, in is expect challenges be As sales, manufacturing warehouses costs, our volume that quarter the higher sequential result reduced volume experienced fourth the and improvement fixed quarter. trends. by production growth pressured our we gross at expect I we and continue to to downtime, respect positive other cost temper we reflecting quarter our which the fiscal mentioned shipments
thank the to transition. on warehousing our season. logistics the Weston including our most throughout service I working been customers working team us I through that to members with Lamb importantly, for holiday partners want thank want manage have And project, tirelessly this to and our in
provide central manufacturing in well April. will transition for time the of during and our earnings We implementing network quarter system processes further systems line the third ERP as update on general a throughout the our call the new as
manage delivered another strong execute to and and continue top growth bottom line costs. In summary, our portfolio strategies, our of we as manage we quarter mix
We trends half the the the cautious year effect about of inflation remaining the continue to consumer. improve to expect in on while volume of second
SG&A raising including And a interest range to for potatoes the estimates expense. updated EBITDA finally, our our our estimate absorbing reflect annual for lower we annual and excess earnings raw EPS year. and write-off despite reaffirming
Let turn Tom some it to over now closing for me back comments.
