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XXXX independent delivered company-owned sales which quarter net of to second We of XX.X% and sales of converting Our DSD net increased XX.X%, routes impact million. organic the excludes impact growth to operators. acquisitions $XXX.X the
selling an thereby points when distribution routes a XX%, reminder, reducing moved selling, this expenses profit. conversions. and net sales convert XXX our negative expanded expenses impact gross and discounts, As and we IO to certain IOs, to gross benefiting basis points includes margins sales approximate of administrative from Adjusted basis XX and
this of change COGS adjusted and that year second is of would compared fiscal year. in SD&A quarter for in have This margin factored net this our that a second basis with into XX the expenses conversions. higher SD&A XXXX. now show In the XXX be versus more will in of to points last non-operating XX quarter when and improved points points the sales our margins gross first percent comparison I apples-to-apples our and are last quarter year to points expenses SD&A adjusted quarter you year. as reporting year, consistent A income began about gross this of by prior of impact there to would also XX to adjusted XX% expenses certain year, be that the were addition, note basis better basis expanded the account IO in basis Furthermore, sales. miscellaneous second
reflects our a $XX.X quarter of slightly higher was income XX.X% months. several points to rates increased $XX.X The the acquisitions in by Our added adjusted sequential sales, than strong interest we Adjusted quarter expense net adjusted decline results. interest XXX or also second year which due basis profit net in first slightly improvement expense of and debt net relative core higher XXXX better decreased XX XX.X% assets and through million. by the income to EBITDA to incremental of manufacturing last operating performance, million have depreciation higher last offset as new and to
approximately diluted shares basis million. based as-converted adjusted was of fully an on $X.XX Lastly, EPS on $XXX
turning cash the flow Now balance sheet. onto and
cash was XX For used July operations million. X, the through $XX.X in weeks
performance normal contract As of earnings as expense impacted with distribution And a cash terminations booked call, in quarter of we $XX the the our which adherence discussed line by GAAP. on quarter cash, was seasonality. capital of DSD to as buyouts is were in as first use an our third-party treated working and primarily our rights in that million multiple first
we working seasonality, of both quarters. in $XX.X become third consistent the capital source expenditures fourth and cash further were and performance million. second Our Year-to-date, capital to normal a and quarter this modestly expect improve with in improved
announced a on cash the $XX.X transaction million on not flows reminder, has a As of this and expenditure facility. as acquisition. with for as our closed April purchase accordance our XX, cost Kings an of and the In GAAP, we facility capital booked Mountain statement been
The facility, million be Excluding of issuance X.X sale with of in Brands the the of stock million a from transaction placement. was Class common mounted proceeds private $XX.X the to $XX Kings Benestar capital expenditures would $XX.X A and of and shares funded million million. approximately affiliates in purchase of cash
We in footprint as a this role will play in the our demand supporting our excited growing add Southeast, to are facility and very brands it Northeast critical Mid-South manufacturing to for regions.
the sheet. credit available we the in million drivers million. balance liquidity. end and cash primarily that the second by the our revolving $XXX was Liquidity operations. had our quarter, impacted $XX close on equivalents cash $XX approximately Moving flow And million to of providing cash At to from were facility, impacted
times quarter-end of at debt $XXX.X EBITDA million. was $XXX.X normalized Net sheet. or balance adjusted the X.X down Moving million,
generating improving of long-term free target down conversion and stronger to While paying debt. EBITDA, leverage cash we to times, three our are flow four committed is above
remains XXXX. will have EBITDA leverage. adjusted upper structure Our and EBITDA well performance. continue which synergy approaching goal targeted our credit we end reminder, delivering we targets, fiscal by instruments, begin the on provides operating integrating business, covenant-light end significant We of Also, with improve which remain range headroom, just to a acquisitions, of priced the of to work on focused reducing a as the all debt while
interest more debt at September a of XXXX X.XX%. nominal addition, of a through swap has long-term than In XX% our rate rate
sales. some back Moving net for P&L with starting additional to the details,
XX.X%, X.X%, negative to sales net was a from growth net which of in acquisitions Our and conversion growth of impact the RSP of X.X%. quarter the related growth by XX.X%, growth by the driven reduced IOs, organic routes sales
net sales execute was growth by of line organic to our and Our was driven and we continue of XX.X% expectations X.X%. slightly better volume to in of actions pricing volume performance was price/mix offset inflation. as our Pricing planned than growth XX%
had on As basis proactively strategic impacted we brands. by are was volume partner label approximately due power focused our meant to simplify mix private and rationalization XXX anticipated, and our to SKU on XXX focus activities portfolio, increased our brands that certain to points optimize
promotional expected. from we lapping and temporarily are year growth some as also impacting volume gains We are last features that distribution
expectations. in of offset by price adjusted modestly points. these continue to offsetting expanded expense and higher drivers elasticities our unfavorable expectations. margins we XX.X% XXX inflation, inflation, administrative basis sales, for selling margin was of transportation include margin XX.X% XXX driven Lastly, of quarter, be points. to XX% ahead to better and EBITDA basis of actions including of XX.X% adjusted pricing of costs improvement the drivers second and Decomposing positive continue productivity the and the our Partially which positive take quarter, impact as where change In the increased price/mix EBITDA to than
costs. transportation geographies and versus comprised year as customers. administrative to key which higher and of as as in expense, commodity impact support a primarily our infrastructure excludes increased and Our of input Selling growth elevated investments inflation well expense, team, costs distribution was result last labor our in and
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help deliver We our cover continue this XX% to inflation price to to expect about expectations. year
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Now turning year XXXX. to fiscal outlook full for our
our than will growth the our half outlook, year, year-to-date the volumes and performance, full sales elasticity, assume first in better continued Given organic now sales to our XX%. sales that sales net of raising XX% XXXX strong we to expected we our than to are XX% prior net outlook second consumer volumes price Within to soften volume year. to year our but expect continue net XX%, total outlook to growth grow for we half given versus the demand and growth expected stronger performance, modestly
capacity additional Our assumes with branded BORDER. growing optimize as and production as THE strategic SKU such on incremental portfolio, focus our unlock enhanced an ON our brands, products power volume of for brands including rationalization to continued prioritizing outlook we
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continue we an addition, to consistent In at and expect approximately rate tax effective be XX%, year-end with to year-end XXXX. leverage of net
on productivity margins EBITDA sequentially pricing Finally, our the our of cadence continue with the and line we in throughout to fourth assumed as actions guidance, third quarter ramp year, typical quarterly up, to benefits our but quarter adjusted continue the below to margins with expect seasonality. the improve our in
first by sales to XX%. the and our quarter. the now strong year, at will growth weighting quarter first second expected be second EBITDA the of half followed of versus half year, From perspective, of rate expect the highest be a the Given more continue quarterly year-over-year that is the in quarter we second to of XX% adjusted growth the year balanced the performance, the sales approximately
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consistent. enable our and cover costs believe We pricing long-term revisit people, input opportunity chain. margins continued our call mid-teens margin inflation-justified investments I up will that the returning would and help for open higher and and I supply to in our have expansion to remained brands, margin Before in our to over actions like time. These confidence drivers questions,
and improving is to chain supply planning throughput Our we enhanced our capabilities manufacturing, unlock increase as efficiencies. logistics, and
for allowing are to and manufacturing to our are power integrations support capabilities portfolio. acquisition brands strong efficiently demand track on recent scale Our us our
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