Thank and you, good everyone. Dylan morning
and line to we mentioned adjusted to topline XX.X% growth than earlier, our increased million. EBITDA Dylan quarter, was $XXX.X profit to $XX Net As in Gross more that sales and $XX.X increased strong million. XX.X% expectations. with in bottom-line million the delivered doubled
As of acquisitions, year and you know on was a the pro impact net and XXXX impact adjusting XX-week the the sales the a X.X% comparable extra basis calendar increased of XX-week quarter. for week in forma
sales for to the pro and our growth amidst the expansion Utz XX.X% This For net of COVID-XX, consistency three our and margins EBITDA delivered and forma the shareholders. increased sales. unwavering acquisitions. margin we over customers relentless culture going organization a the our results challenges and are delivering full strategic focus XXX grew of speaks to of sales year, with public, and on expanding points and category-leading XX.X% the spirit basis as team's XX.X% of These reflection of execution adjusted
growth our by week sales rate was by of operators, of to and details, in to of higher net partially discounts reduced impact which X.X%. X.X%, sales extra growth Moving price/mix XX.X%, by driven X.X%, the independent the X%, of quarter the the acquisitions the of net volume offset
conversions, EBITDA the cost, discount the process we in and but over selling sales independent we transportation independent effect to gross company-owned these long-term. such margins a believe sales compensation, routes decreasing we of but of DSD net pay and benefits, instead we operators. in route to has operator routes. it as we as higher certain reminder, are profit, results commission This As incur And costs no the longer converting and make a
P&L, the a quarter. had the Moving strong performance in down we very margin
our Our approximately of basis basis of EBITDA in growth in approximately points an margin adjusted gross to margin profit XX.X%. XXX XXX adjusted increase led points to
approximately the approximately for don't the drove contributed of approximately in As certain margin points by goods which strong we due spend admin expense XXX and was margin points were volumes margin a bit, Acquisitions quarter XXrd year-over-year. week growth a contributed margin-neutral approximately that basis and in as points contributed to a chain XXX results. relatively sold and expansion. Price/mix our higher adjusted volume locked basis higher in XX and Cost costs offset growth. as higher selling the XXX that favorable points margin contracts strong incentive And growth recur e-commerce and we increase margins selling we of experienced basis basis Dissecting of quarter our realization. the finally, had in reminder, prior margin expansion of the lower leveraged selling in supply of by we benefited of manufacturing basis facilities. performance approximately execution, compensation as to timing of both The expenses expenses XXXX impacted growth. commodity year expect points portion lower XX contributed EBITDA proactive due marketing drove to synergy
higher and e-commerce year incentive to of impact year, the expense and and full spend. compensation was For due higher selling admin the marketing
our other balance and key sheet to points. Moving
enabled cash, loan of year-end $XXX we full remains facility the credit our approximately brought we million of credit with facility acquisition million cash due coupled fund which new THE had brand public strong a to the As B. term million in bridge term us refinancing previously ON of January Truco approximately of BORDER the refinance as $XXX million term B This completed in our balance XXth, $XXX the Enterprises in repay XXXX. term the on warrants loan million and pre-existing and exercising to a in used $XXX and availability loan we ABL $XX new and and year-end, announced a million. placed $XXX fiscal loan After on liquidity
interest or Importantly, year years maturity adjusted rate Truco support this cost run over long-term with lowered synergies by expected X.X was to further our $X XXXX lengthened additional cash business million entire this were million $XXX assumes $X including million Truco. and XXXX our fiscal cost profile as EBITDA approximately the by annually, as Anderson forma over normalized which for well Pro our acquisition, Truco on and growth. of provides three H.K. related our our financing refinancing in at to net year-end flexibility million continued $XXX and debt times to financial the
Before help on an to that I'd like our and I strategic XXXX, to our enable provide our will scaling. update discuss continue projects for outlook infrastructure two improve platform
First is our ERP implementation.
and been analytics can We have in our network business a for efficiency current completed the modules were system excited deliver. we the phase advantage across are that state our of XXXX. the This deployment incremental process a and ERP has to up final begin and taking single of February integrated stood two-year
employees We execution. to business will returning focus across helping of drive key also from the on from ERP the functional areas benefit day-to-day
to to brief in implementation, our COVID-XX company-owned XXXX. the conversion and a half conversion after year ERP routes first to finish from the and last independent accommodate resumed Second, pause operators we the impact of expect the we
initiative over we've for this several route we to to by As We margins to adding long-term has derisk increase organic EBITDA been is organic and and completing believe spoken accretive for the helps cash new count and opportunities IO to now business forward strategy growth, time. ongoing to incremental is we'll years conversion also look our which before, flow look overall. to routes continue our IO
guidance. to Turning
us We are forward with into XXXX. our looking to momentum for strong another year continuing
forma We of consistent sales expect be with billion. XXXX net $X.XX full to XXXX year net pro sales
will results by on million of impacted owned activity. be on and for XX have Anderson sales comparison XXXX we sales align Vintners of $XX H.K and SKU XXXX For clarity, basis XX-week which for to assumes rationalization our with is and Truco net day the fiscal a of fiscal pro forma assumes net XXXX, months expectations first
'XX modest lap of year-over-year growth over Importantly, sales as X%. even fiscal organic growth expect we organic we
two-year on this our basis, COVID-XX forma sales growth about sales net pro in to retail X% with impact DSD well forma algorithm long-term firmly importantly, incremental is offset organic to As led our below algorithm. X% to price/mix, the lap We guidance the operators. long-term remains independent XXXX with momentum, continued COVID-XX-related and results consumption expected intact. in at-home partially above a February we strong XXXX sales innovation began the and due But our of XXXX distribution, on pro of growth and growth our which conversion good by year X%, full route through by year expect growth stack
to adjusted Moving EBITDA.
a of XXXX, $XXX million million Included a $XXX acquisitions at contribution XX%. $X cost from delivering numbers and to EBITDA of run million, expect of XXXX versus synergies our further of range our acquisitions to We million these million. is $XX million from adjusted in $XXX H.K. excluded from are Vitner's; Truco least of the margin approximately assumptions Anderson, rate $XX of
to is pull through the offset second X% focused to these is cost the months of XX inflation expect commodity by this which assumption end within of we have acquisition typically range and on to the accomplish We most history. EBITDA are of pricing quarter our actions the in XXXX, over Included experienced XX to about of we of synergies pressure. our cost
Additionally, incremental of spend. inflation to we offset sold, expect and X% marketing fund cost which of helps to goods productivity from increase X% to
converting we process and independent net routes are as and discounts, this and in negatively which mentioned sales company-owned gross growth impacts I increases profit. sales rate for of from of to operator the Finally, conversion earlier, the
an range $X.XX basis fully depreciation we of EPS, of amortization expense. $XXX which and adjusted For and as on $X.XX, compensation million diluted exclude shares converted step-up to a and stock expect assumes
additional for Lastly, assumptions consideration. a few
XXXX with acquisition the million funded February balance in we First, Vitner’s cash. sheet $XX
conversions operator We XXXX. to independent XXX are XXX expecting route in
of selling sold million are million $XX to cost goods step-up of comprised expect of We million, two-thirds of to one-third million D&A approximately administrative core and and and both $XX expense. $XX which $XX D&A
of We behind expenditures $XX targets. million to productivity expect we lean look XXXX to into capital our program $XX million, as invest and
We approximately million. $XX expect of cash interest expense
productivity our in lower is unrealized marketing by ratio assumption come outlook XX% effective which the $X levels payments. And Diving with we to income expect for savings, of approximately and margins to up design, assumptions, network spending net dedicated team are rate productivity pre-tax cost and we progress for XX% breaking XX% an in a tax ramp-up sold. outlook our e-commerce from spend and our productivity to double to and XXXX know we Also XXXX. is leverage XXXX relative end cornerstone product in percentage some expect the That included are an to towards and includes down XXX% We increase innovation. X% of our from additional In our over optimization productivity This to ramp-up into from of expect e-commerce that cash been year, of a book synergies incremental to XXXX, driving and included the times. and XXXX, for our XX% manufacturing, of X.X higher We we mix tax will and we spending efforts million this and productivity XX% to investments sourcing. incremental running and X% relative increased X% time. to approximately our A media levels. approximately goods XX%, an from significantly a of expect to planning acquisitions. manifest digital of expect XXXX to has for cost drive goal meaningful we from XX% digital in the drive XXXX mix expect X% from of XXXX of into projects cash we expect working and of year higher expect we productivity sponsorship
IRI, in pretzel touch and XXXX. on retention. to total U.S. innovation introducing slate few, in of we represents exciting us have a flavored an is media but to to of XXXX allocate Utz's subcategory of XX%, are subcategory a approximately XX% new as to XX% of first, have remain to This digital measure pretzels. allow nimble, and and growth From is products most working e-commerce, mix. around across on drive perspective, brands the And return an the according twister's only proven strategies spending we We buyer To salty grew these snacks subcategories. and that fiscal continue will
a in Our to us new history product drive meaningful should well part our this permanent of rich the make portfolio pretzel that positions subcategory, growth.
also pourables. on-the-go cheese products introducing are like We our
under cheese strong Pourables and peanut barrels mostly H.K. have product a mass an large Early Utz But that the continue of And and we club. growth are for butter-filled entirely This to Anderson. more And for know, extension appropriate launched you both us. Brand. grocery balls on a H.K. is other in C-store and the and As will innovation and is pretzel pretzels Brands. the are Utz in the we today product are across, impulse capabilities for filled almost with around is the innovate and we in acquired lastly, we channels. expectations sold go high strong. Anderson results platform. And have
year, execute In products. build wide to of this XXX-year believe innovations will our like, strategic have enhance flavors we we anniversary other addition, we summary, on and a In continue range shareholder will foundation value. special against our new textures protein and that our snacks, strong and priorities
we will multi-faceted margins strengthen opportunities. and strategies actions growth that while fundamentals throughout our we As that move advance our balance create long-term, driving stronger XXXX,
call remarks. turn for Now the back I'd over some like Dylan, to to closing
